The company said it agreed with the lenders under its existing revolving credit agreement on May 31, 2024 to amend the terms through the Thirteenth Amendment, including extending the maturity to May 31, 2029, the 5th anniversary of the amendment's effective date.

1. 01

   The company said it agreed with the lenders under its existing revolving credit agreement on May 31, 2024 to amend the terms through the Thirteenth Amendment, including extending the maturity to May 31, 2029, the 5th anniversary of the amendment's effective date.

2. 02

   The company said the revolving credit agreement provides a $3.9 billion multi-currency revolving facility, with sub-limits for non-dollar borrowings and letters of credit, and includes an option to propose an increase of up to $1.0 billion, subject to lender consent and other conditions.

3. 03

   The company said borrowings bear interest at term SOFR plus a ratings-based margin of 0.875% to 1.500%, or at a base rate plus a margin of 0.000% to 0.500% if the company elects the base rate. It said it will also pay a ratings-based fee of 0.080% to 0.200% on undrawn amounts.

4. 04

   The company said it may use the facility for working capital and general corporate purposes, including serving as a backstop for amounts issued under its commercial paper program. It said the agreement contains covenants such as a leverage ratio maintenance covenant.

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Original filing

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