Dollar Tree entered into a new credit agreement with JPMorgan Chase Bank, N.A., as agent, providing for a $1,500 million revolving credit facility on March 21, 2025, of which up to $350 million is available for letters of credit.

1. 01

   Dollar Tree entered into a new credit agreement with JPMorgan Chase Bank, N.A., as agent, providing for a $1,500 million revolving credit facility on March 21, 2025, of which up to $350 million is available for letters of credit.

2. 02

   The company entered into a 364-day revolving credit agreement with JPMorgan Chase Bank, N.A., as agent, on the same day, providing for a $1,000 million 364-day revolving credit facility that matures on March 20, 2026.

3. 03

   The company said loans under both revolving credit facilities will bear an initial interest rate of Adjusted Term SOFR Rate plus 1.125%, subject to adjustment based on its credit ratings and leverage ratio. It said the 364-day facility requires it to use net cash proceeds from asset sales, additional debt and equity issuances to repay loans.

4. 04

   The company said the new facilities include a maximum leverage ratio covenant and a minimum fixed charge coverage ratio covenant. It also said it terminated all commitments and fulfilled all obligations under its existing credit agreement on December 8, 2021.

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Original filing

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