BEN · 10-K · 2026A · Full report

Long-term Debt Issuance

FRANKLIN TEMPLETON INC · 2026-11-09 · Importance 46 · Surprise 42 · In source text

On August 10, 2026, Franklin issued $750.0 million of 5.500% notes due 2036. At September 30, 2026, Franklin senior notes had $1,950.0 million aggregate principal due and a $1,927.2 million carrying value; Legg Mason senior notes had $550.0 million principal due and a $710.6 million carrying value. The $450.0 million 4.750% notes due March 2026 were repaid on March 15, 2026 using cash and revolver borrowings. The revolving credit facility was increased to $1.5 billion and its maturity extended to July 30, 2031, with an option to increase commitments by up to $500.0 million.

Key facts

• On August 10, 2026, Franklin completed an offering of 5.500% notes due 2036 with aggregate principal of $750.0 million. source
• On October 19, 2026, FRANKLIN TEMPLETON INC borrowed $300.0 million under the Credit Agreement; the borrowing remained outstanding at filing and its proceeds were used for general corporate purposes. source
• At September 30, 2026, Franklin's outstanding senior notes had aggregate principal due of $1,950.0 million, fixed interest rates from 1.600% to 5.500%, and aggregate carrying value of $1,927.2 million. source
• Franklin repaid its $450.0 million 4.750% senior notes due March 2026 on March 15, 2026, using cash and revolving-credit-facility borrowings. source
• FRANKLIN TEMPLETON INC's Credit Agreement requires a consolidated net leverage ratio of no greater than 3.25 to 1.00, measured as of the last day of each fiscal quarter. source
• Interest on FRANKLIN TEMPLETON INC's outstanding Credit Agreement borrowings is payable semi-annually at Term SOFR plus a credit spread of 87.5 basis points. source
• FRANKLIN TEMPLETON INC was in compliance with all debt covenants at September 30, 2026. source

Impact estimates