---
schema_version: "secwatch.filing_event.v1"
accession: "0000079879-23-000014"
form_type: "8-K"
ticker: "PPG"
cik: "0000079879"
company_name: "PPG INDUSTRIES INC"
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T15:58:15.062071+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.1
calibrated_materiality_score: 0.1
confidence: "high"
source: SEC EDGAR
---

# PPG amends credit agreements to replace LIBOR with Term SOFR

## Summary
- Amendment No. 1 to Five Year Credit Agreement and Term Loan Credit Agreement executed March 23, 2023.
- LIBOR-based reference rate replaced with Term SOFR; all other material terms unchanged.
- Amendments applicable to $2.2B revolving credit facility and $2.0B term loan facility.

## SEC filing metadata
- accession: 0000079879-23-000014
- form_type: 8-K
- ticker: PPG
- cik: 0000079879
- company_name: PPG INDUSTRIES INC
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.1
- calibrated_materiality_score: 0.1
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/79879/000007987923000014/0000079879-23-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/79879/000007987923000014/ppg-20230323.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000079879-23-000014
- JSON: https://secwatch.observer/filing/0000079879-23-000014.json
- Plain text: https://secwatch.observer/filing/0000079879-23-000014.txt

## Key facts
- Material Agreements
  PPG INDUSTRIES INC amended Term Loan Amendment with BNP Paribas, as administrative agent, and the lenders parties thereto valued at $2,000,000,000 (effective 2023-03-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: BNP Paribas, as administrative agent, and the lenders parties thereto
  - Value: $2,000,000,000
  - Effective: 2023-03-23
  source text: Also on March 23, 2023, the Company entered into Amendment No. 1 to its $2,000,000,000 Term Loan Credit Agreement (the “Term Loan Amendment” and, together with the Five Year Credit Agreement Amendment, the “Amendments”), dated as of February 19, 2021, among the Company, the lenders parties thereto, BNP Paribas, as administrative agent, PNC Bank, National Association, as syndication agent and BNP Paribas Securities Corp. and PNC Capital Markets LLC, as co-lead arrangers and co-bookrunners (as amended, the “Term Loan Credit Agreement” and, together with the Five Year Credit Agreement, the “Credit Agreements”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/79879/000007987923000014/0000079879-23-000014-index.htm
- Material Agreements
  PPG INDUSTRIES INC amended Five Year Credit Agreement Amendment with JPMorgan Chase Bank, N.A., as administrative agent, and the several banks and financial institutions party thereto (effective 2023-03-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the several banks and financial institutions party thereto
  - Effective: 2023-03-23
  source text: On March 23, 2023, PPG Industries, Inc. (the “Company”) entered into Amendment No. 1 to its Amended and Restated Five Year Credit Agreement (the “Five Year Credit Agreement Amendment”), dated as of August 30, 2019, among the Company; the several banks and financial institutions party thereto; JPMorgan Chase Bank, N.A., as administrative agent; BNP Paribas, Citibank, N.A., MUFG Bank, Ltd. and PNC Bank, National Association, as co-syndication agents; and J.P. Morgan Chase Bank, N.A., BNP Paribas Securities Corp., Citibank, N.A., MUFG Bank, Ltd. and PNC Capital Markets LLC, as co-lead arrangers and co-bookrunners (as amended, the “Five Year Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/79879/000007987923000014/0000079879-23-000014-index.htm

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