MARSH & MCLENNAN COMPANIES, INC.

$4.25bn committed across 1 active facility, next covenant test Sep 30, 2026. MRSH

Insurance Agents, Brokers & Service

Recent changes

  1. Jun 4, 2026MARSH & MCLENNAN COMPANIES, INC. signs $4.25bn AMENDED AND RESTATED 5 YEAR CREDIT AGREEMENT, matures Jun 2031SEC ↗

Total leverage: when the limit steps, and which way the company's ratio has been moving.

20263.58x3.24x2.89xToday
Tested quarterly8.3%ratio 3.21x, estimated, vs 3.50x limit in force at Jun 30, 20263.50x
The Company will maintain as of the last day of each Measurement Period a Consolidated Leverage Ratio of not more than 3.50:1.00 (the “Consolidated Leverage Ratio Covenant”);
Read the filing on sec.gov ↗
Tested quarterly66.5%ratio 6.66x, estimated, vs 4.00x limit in force at Jun 30, 20264.00x
The Company will maintain for each Measurement Period a Consolidated Interest Coverage Ratio of not less than 4.00:1.00.
Read the filing on sec.gov ↗

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AMENDED AND RESTATED 5 YEAR CREDIT AGREEMENT

Signed Jun 2, 2026

Committed
$4.25bn
Matures
Jun 2031
Agent
Citibank, N.A.
TrancheSizeMaturesMargin
Revolving Credit Facility$4.25bnJun 2031n/a

Priced over Other (Revolving credit facility).

LevelConditionMarginUnused fee
Level Level ILevel I Pricingn/an/a
Level Level IILevel II Pricingn/an/a
Level Level IIILevel III Pricingn/an/a
Level Level IVLevel IV Pricingn/an/a
Level Level VLevel V Pricingn/an/a
Level Level VILevel VI Pricingn/an/a

Lenders: Citibank, N.A., BofA Securities, Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC

  1. Jun 2, 2026

    Amendmentunconfirmed

    Amends and restates the existing credit agreement, increasing the aggregate revolving commitments to $4.25 billion and extending the termination date to June 2, 2031. Also sets a $575 million letter of credit sublimit and a $1.0 billion swingline sublimit.
    • revolver_commitment: n/a → 4250000000 §Preamble / Cover
    • termination_date: n/a → 2031-06-02 §Section 1.1 – “Termination Date”
    • letter_of_credit_limit: n/a → 575000000 §Section 1.1 – “Letter of Credit Facility”
    Filing ↗
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