Raymond James Financial, Inc. (NYSE:RJF) announced Tuesday that it has entered into a Second Amended and Restated Credit Agreement with a syndicate of lenders led by Bank of America, N.A., as administrative agent. The agreement updates the company’s existing unsecured credit facility.

According to a statement included in a Securities and Exchange Commission filing, the amended agreement extends the maturity date for any borrowings under the facility to September 23, 2030. The total facility amount has been increased to $1 billion. The company’s strong liquidity position is evident in its current ratio of 6.53, indicating substantial liquid assets exceeding short-term obligations.

The company also reported that the applicable interest rate on borrowings has been decreased. Under the new agreement, borrowings will bear interest at the Base Rate, Term SOFR Rate, Daily Floating Term SOFR Rate, or Alternative Currency Term Rate, plus an applicable rate ranging from 0.000% to 1.300%. This range is lower than the previous range of 0.000% to 1.425%, with the rate determined by Raymond James Financial’s non-credit-enhanced, senior unsecured long-term debt ratings.

The amended agreement was executed by Raymond James Financial, Inc. and Raymond James & Associates, Inc. The company’s common stock and depositary shares are listed on the New York Stock Exchange under the symbols RJF and RJF PrB, respectively.

The filing stated that the summary of the agreement is qualified in its entirety by reference to the full text, which was included as an exhibit to the SEC filing.

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This information is based on a press release statement included in Raymond James Financial’s SEC Form 8-K filing.

In other recent news, Raymond James Financial announced the pricing of a $1.5 billion registered public offering of senior notes, divided into two tranches. The offering includes $650 million in 4.900% senior notes due in 2035 and $850 million in 5.650% senior notes due in 2055. Meanwhile, the company declared a quarterly cash dividend of $0.50 per share on its common stock, payable in October 2025. Additionally, Raymond James appointed David Solganik as the head of AI strategy, a new position aimed at integrating advanced analytics and AI across its operations. In recruitment news, the firm welcomed financial advisors Aaron Mabon and Summer Deal, who managed approximately $190 million in client assets at their previous firm. Furthermore, JMP analyst Devin Ryan reiterated a Market Outperform rating on Raymond James, setting a price target of $180.00. This follows investor meetings with senior management, which provided insights into the company’s growth strategy.

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