secwatch.observer — SEC 8-K summary
======================================

Issuer:     3M CO (MMM)
CIK:        0000066740
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0000066740-23-000037
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

3M enters new $4.25B five-year revolving credit facility, replaces prior $3B and $1.25B facilities
--------------------------------------------------------------------------------

- New $4.25B unsecured five-year revolving credit facility dated May 11, 2023, with JPMorgan as administrative agent.
- Replaces $3.0B five-year facility (Nov 2019) and $1.25B 364-day facility (Nov 2022); both terminated.
- Facility fee of 0.04% per annum on unused commitments; interest margin 0.625% for term benchmark advances (SOFR+0.10%+0.625%).
- Company may request increase up to $5.25B and extension up to two additional one-year periods, subject to lender consent.
- Covenant requires EBITDA/Interest ratio not less than 3.0 to 1.0 quarterly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/66740/000006674023000037/0000066740-23-000037-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/66740/000006674023000037/mmm-20230511.htm
  HTML page:      https://secwatch.observer/filing/0000066740-23-000037

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer