Nike has established a new $1 billion unsecured revolving credit facility with Bank of America serving as administrative agent, the sportswear giant disclosed in a regulatory filing on March 6, 2026.<\/p>\n
The 364-day credit facility matures on March 5, 2027 and will support the company\u2019s working capital needs and general corporate purposes, including backing commercial paper issuances. The agreement includes borrowing capacity in multiple currencies\u2014U.S. Dollars, Canadian Dollars, Euros, Sterling, Yen and other freely convertible currencies approved by the administrative agent and lenders.<\/p>\n
Nike has the option to increase commitments under the facility to $1.5 billion with consent from existing lenders or additional banks. The company can also request renewal for another 364-day period or convert outstanding amounts into a term loan maturing within one year.<\/p>\n
U.S. Dollar borrowings will carry interest at either Term SOFR plus a 0.595% margin or a base rate tied to the highest of Bank of America\u2019s prime rate, the federal funds effective rate plus 0.50%, or one-month Term SOFR plus 1.00%. Interest periods of one, three or six months are available for Term SOFR loans.<\/p>\n
The credit agreement includes standard covenants restricting the company\u2019s ability to incur additional liens, pursue mergers and acquisitions, or dispose of assets. However, it contains no financial covenants. The facility replaced Nike\u2019s prior $1 billion 364-day credit agreement dated March 7, 2025, which would have expired on March 6, 2026. No amounts were outstanding under the previous facility at termination.<\/p>\n
Co-syndication agents on the new facility include Citibank and JPMorgan Chase Bank, while Deutsche Bank Securities, HSBC Bank USA and Goldman Sachs Bank USA serve as co-documentation agents.<\/p>\n
Disclaimer: This article is based on a Form 8-K filing submitted to the U.S. Securities and Exchange Commission (SEC).<\/p>\n
This article is written by AI Desk<\/strong> and reviewed by News Desk<\/strong> before publication.<\/p>\n","protected":false},"excerpt":{"rendered":" Nike has established a new $1 billion unsecured revolving credit facility with Bank of America as administrative agent. The 364-day facility matures on March 5, 2027 and can be increased to $1.5 billion with lender approval.<\/p>\n","protected":false},"author":394,"featured_media":113199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[35700,35698,19724,35699],"class_list":["post-113183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-corporate-finance","tag-debt-credit-facilities","tag-nike","tag-working-capital"],"reading_time":"2 min read","_links":{"self":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/113183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/users\/394"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/comments?post=113183"}],"version-history":[{"count":1,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/113183\/revisions"}],"predecessor-version":[{"id":113200,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/posts\/113183\/revisions\/113200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media\/113199"}],"wp:attachment":[{"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/media?parent=113183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/categories?post=113183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessupturn.com\/usa\/wp-json\/wp\/v2\/tags?post=113183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}