TRV: Other company developments

Item 8.01 Other Events. On May 15, 2026, The Travelers Companies, Inc. (the “Company”) entered into a $1.2 billion Five-Year Revolving Credit Agreement (the “Credit Agreement”) with a syndicate of financial institutions, including Citibank, N.A., as administrative agent; Citibank, N.A., BofA Securities, Inc., and JPMorgan Chase Bank, N.A. as joint lead arrangers and joint bookrunners; and Bank of America, N.A. and JP Morgan Chase Bank, N.A., as co-syndication agents. The Credit Agreement replaced the Company’s previous $1.0 Billion Five-Year Revolving Credit Agreement, which was terminated on May 15, 2026. The Credit Agreement provides for up to $1.2 billion of credit. The interest rates applicable to loans under the Credit Agreement are generally based on a base rate plus a specified margin or a term rate based on SOFR plus a specified margin. In addition, the Company will pay a facility fee on each lender’s commitment irrespective of usage. The applicable margin and the amount of the facility fee vary based upon the Company’s long-term senior unsecured non-credit-enhanced debt ratings. Pursuant to covenants in the Credit Agreement, the Company must maintain an excess of consolidated net worth (as defined in the Credit Agreement) over goodwill and other intangible assets of not less than $17.8 billion. In addition, the Credit Agreement contains other customary restrictive covenants as well as certain customary events of default, including with respect to a change in control. Unless terminated earlier by the Company, the Credit Agreement is scheduled to expire on May 15, 2031, subject to extension with lender consent according to the terms of the Credit Agreement. Borrowings under the Credit Agreement may be used for general corporate purposes of the Company and its sub