Brighthouse Financial Inc., the life insurance company being spun off from MetLife Inc., has signed a new $600 million term loan agreement with Bank of America.

The Charlotte-based insurance company has not borrowed against the loan, which can be used for general corporate purposes, including its split from MetLife, according to a filing with the Securities and Exchange Commission.

Its former term loan was with JP Morgan Chase Bank, according to the filing.

Brighthouse Financial will separate from New York-based MetLife on Aug. 4, according to the filing.

MetLife shareholders will receive one share of Brighthouse Financial common stock for every 11 shares of MetLife common stock they own as July 19.

Brighthouse Financial has approximately 2.8 million insurance policies and annuity contracts in force and $240 billion in assets.