Alliancebernstein holding l.p. announces $900.0 million committed, unsecured senior credit facility with axa equitable holdings, inc

On november 4, 2019, alliancebernstein l.p. established a $900.0 million committed, unsecured senior credit facility (eqh facility") with axa equitable holdings inc. (eqh"). the eqh facility matures on november 4, 2024 and is available for ab's general business purposes. borrowings under the eqh facility generally bear interest at a rate per annum based on prevailing overnight commercial paper rates. the eqh facility contains affirmative, negative and financial covenants which are substantially similar to those in ab's committed bank facilities. the eqh facility also includes customary events of default substantially similar to those in ab's committed bank facilities, including provisions under which, upon the occurrence of an event of default, all outstanding loans may be accelerated and/or the lender's commitment may be terminated. amounts under the eqh facility may be borrowed, repaid and re-borrowed by from time to time until the maturity of the facility. ab or eqh may reduce or terminate the commitment at any time without penalty upon proper notice. eqh also may terminate the facility immediately upon a decline in ab's short-term ratings below p-2 or a-2 or upon a change of control of ab's general partner.
AB Ratings Summary
AB Quant Ranking