---
schema_version: "secwatch.filing_event.v1"
accession: "0000066740-22-000080"
form_type: "8-K"
ticker: "MMM"
cik: "0000066740"
company_name: "3M CO"
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T21:37:45.162435+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# 3M enters $1.25B 364-day credit facility, amends five-year agreement for LIBOR transition

## Summary
- $1.25B 364-day credit agreement with JPMorgan as administrative agent; commitment fee 0.025% on unused commitments.
- Advances in USD at adjusted term SOFR + 0.75% margin or base rate + 0.00%; EUR advances at EURIBOR + 0.75%.
- Option to convert outstanding advances to one-year term loan on maturity date for a 0.50% fee.
- EBITDA-to-Interest Ratio covenant of at least 3.0:1.
- Amendment No. 1 to Five-Year Credit Agreement replaces LIBO Base Rate with adjusted term SOFR (USD) and EURIBOR (EUR).

## SEC filing metadata
- accession: 0000066740-22-000080
- form_type: 8-K
- ticker: MMM
- cik: 0000066740
- company_name: 3M CO
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/66740/000006674022000080/0000066740-22-000080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/66740/000006674022000080/mmm-20221110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000066740-22-000080
- JSON: https://secwatch.observer/filing/0000066740-22-000080.json
- Plain text: https://secwatch.observer/filing/0000066740-22-000080.txt

## Key facts
- Debt Financings
  3M CO incurred revolving credit of $1.25 billion with JPMorgan Chase Bank, N.A. (as administrative agent) at adjusted term SOFR rate plus 0.75% per annum maturing 364-day.
  - Instrument: revolving credit
  - Principal: $1.25 billion
  - Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent)
  - Rate: adjusted term SOFR rate plus 0.75% per annum
  - Maturity: 364-day
  - Event: incurrence
  source text: On November 10, 2022, 3M Company entered into a $1.25 billion 364-day credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent, Citibank, N.A. as syndication agent, Deutsche Bank Securities Inc. and Bank of America, N.A. as documentation agents, and a syndicate of lenders as defined in the Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/66740/000006674022000080/0000066740-22-000080-index.htm
- Material Agreements
  3M CO entered into Credit Agreement with JPMorgan Chase Bank, N.A. as administrative agent, Citibank, N.A. as syndication agent, Deutsche Bank Securities Inc. and Bank of America, N.A. as documentation agents, and a syndicate of lenders valued at $1.25 billion (effective 2022-11-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A. as administrative agent, Citibank, N.A. as syndication agent, Deutsche Bank Securities Inc. and Bank of America, N.A. as documentation agents, and a syndicate of lenders
  - Value: $1.25 billion
  - Effective: 2022-11-10
  source text: On November 10, 2022, 3M Company entered into a $1.25 billion 364-day credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A. as administrative agent, Citibank, N.A. as syndication agent, Deutsche Bank Securities Inc. and Bank of America, N.A. as documentation agents, and a syndicate of lenders as defined in the Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/66740/000006674022000080/0000066740-22-000080-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.