Company: AIZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001267238-25-000008
Chunk: 121

Company: ASSURANT, INC.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 121
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 options to raise needed funds, including selling assets from the subsidiaries’ investment portfolios, using holding company cash (if available), issuing commercial paper, or drawing funds from the Credit Facility.

Senior and Subordinated Notes 

The following table shows the principal amount and carrying value of our outstanding debt, less unamortized discount and issuance costs as applicable, as of December 31, 2024 and 2023:

December 31, 2024December 31, 2023Principal AmountCarrying ValuePrincipal AmountCarrying Value6.10% Senior Notes due February 2026$175.0 $174.3 $175.0 $173.7 4.90% Senior Notes due March 2028300.0 298.6 300.0 298.2 3.70% Senior Notes due February 2030350.0 348.2 350.0 347.9 2.65% Senior Notes due January 2032350.0 347.3 350.0 347.0 6.75% Senior Notes due February 2034275.0 272.8 275.0 272.7 7.00% Fixed-to-Floating Rate Subordinated Notes due March 2048400.0 397.7 400.0 397.0 5.25% Subordinated Notes due January 2061250.0 244.2 250.0 244.1 Total Debt$2,083.1 $2,080.6 

In the next five years, we have two debt maturities in February 2026 and March 2028 when the 2026 Senior Notes and the 2028 Senior Notes, respectively, become due and payable. 

Credit Facility and Commercial Paper Program

We have a $500.0 million five-year senior unsecured revolving credit facility (the “Credit Facility”) with a syndicate of banks arranged by JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association. The Credit Facility provides for revolving loans and the issuance of multi-bank, syndicated letters of credit and letters of credit from a sole issuing bank in an aggregate amount of $500.0 million, which may be increased up to $700.0 million. The Credit Facility is available until December 2026, provided we are in compliance with all covenants. The Credit Facility has a sublimit for letters of credit issued there