IVZ · 10-Q · 2026Q3 · Full report

Debt and Liquidity Position

Invesco Ltd. · 2026-11-03 · Importance 61 · Surprise 66 · Matches filing data

Invesco reduced debt by $342.7 million during the third quarter of 2026. On January 15, 2026, it redeemed $500.0 million of senior notes; lower interest expense from that redemption and repayment of a three-year term loan contributed to quarterly interest expense declining to $20.3 million from $25.7 million. Nine-month interest expense nevertheless increased to $68.2 million from $59.5 million, primarily because of higher borrowings on the Revolving Credit Agreement and the five-year term loan entered into in May 2025. The company subsequently financed its October 26 preferred-stock repurchase with a $1.5 billion five-year floating-rate bank term loan.

Key facts

• Invesco’s debt carrying value was $1,281.3 million at September 30, 2026, compared with $1,825.1 million at December 31, 2025. source
• Invesco redeemed $500.0 million of senior notes that matured on January 15, 2026. source
• For the nine months ended September 30, 2026, Invesco’s operating cash flows excluding CIP were $1,227.1 million. source
• Invesco’s maximum exposure to credit risk from cash and cash equivalent balances was $965.5 million at September 30, 2026, including $404.4 million invested in affiliated money market funds. source
• At September 30, 2026, Invesco had $965.5 million of cash and cash equivalents, $2,107.0 million available under its Revolving Credit Agreement, and total liquidity sources of $3,072.5 million. source
• Invesco’s credit agreements require a quarterly adjusted debt/Covenant Adjusted EBITDA leverage ratio no greater than 3.25:1.00 and an interest coverage ratio of at least 4.00:1.00. source
• Invesco had net repayments of $44.7 million on its Revolving Credit Agreement for the nine months ended September 30, 2026; there were no net repayments in the comparable 2025 period. source
• Invesco stated that regulatory liquidity and working-capital requirements may limit transfers of cash between certain jurisdictions and that international cash transfers may have adverse tax consequences. source

Impact estimates