The company said it entered into a new $2.25 billion revolving credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, dated April 25, 2025. It matures on April 25, 2030, and the company may extend the maturity by 1 years at its option, up to two times.

1. 01

   The company said it entered into a new $2.25 billion revolving credit agreement with JPMorgan Chase Bank, N.A. as administrative agent, dated April 25, 2025. It matures on April 25, 2030, and the company may extend the maturity by 1 years at its option, up to two times.

2. 02

   The company said the new agreement permits it to borrow from time to time for general corporate purposes. Loans bear interest at the Base Rate, Daily Simple SOFR or Term SOFR Rate, in each case plus an Applicable Margin based on the company's corporate credit rating.

3. 03

   The company said the new agreement includes a financial covenant requiring it to maintain a leverage ratio, and restrictive covenants that limit liens and sale and leaseback transactions. It also said it may increase total commitments from $2.25 billion to $2.75 billion, provided no default or event of default has occurred and is continuing.

4. 04

   The company said it terminated its existing revolving credit agreement on March 24, 2021 in connection with entering into the new agreement. It said there were no outstanding loan borrowings under the old agreement at termination and no early termination penalties were incurred.

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Original filing

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