CHICAGO--(BUSINESS WIRE)--
Unitrin, Inc. (NYSE: UTR) announced today that it has entered into a new
$245 million, three-year revolving credit facility that expires on
October 30, 2012. The new facility replaces Unitrin's facility that was
set to expire on June 30, 2010. The new facility contains certain
financial covenants including limits on total debt to total
capitalization, consolidated net worth and minimum risk-based capital
ratios for Unitrin's largest insurance subsidiaries. Proceeds under the
agreement can be used for general corporate purposes, including the
repayment of existing indebtedness.
Don Southwell, Unitrin's President and Chief Executive Officer,
commented, "We are pleased to have entered into one of the first
three-year revolving credit facilities this year for a company whose
primary business is insurance. It is important to note that this new
facility extends well beyond the November 2010 due date of our $200
million Senior Notes."
Wells Fargo Securities, LLC served as Joint Lead Arranger and Sole
Bookrunner on the facility while JP Morgan Securities Inc. served as
Joint Lead Arranger.
Unitrin is a financial services company focused on creating shareholder
value by providing through its subsidiaries a diverse array of insurance
products and services for individuals, families and small businesses.
Among the brands in Unitrin'sProperty and Casualty Insurance businesses
are Kemper(R)1 and Unitrin Specialty, which sell personal and
commercial insurance through networks of independent agents, and Unitrin
Direct, which sells automobile and homeowners insurance directly to
consumers or through employer-sponsored voluntary benefit programs.
Unitrin'sLife and Health Insurance businesses bring a high-level of
personalized service to their customers. Additional information about
Unitrin is available by visiting its website (www.unitrin.com).
1 Unitrin uses the registered trademark "Kemper" under
license, for personal lines insurance only, from Lumbermens Mutual
Casualty Company, which is not affiliated with Unitrin.
Source: Unitrin, Inc.
Contact: Unitrin, Inc.
Frank J. Sodaro, 312-661-4930
investor.relations@unitrin.com