---
schema_version: "secwatch.filing_event.v1"
accession: "0000079879-23-000051"
form_type: "8-K"
ticker: "PPG"
cik: "0000079879"
company_name: "PPG INDUSTRIES INC"
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:35:07.525262+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# PPG enters $2.3B revolving credit facility, maturing 2028, replacing 2019 agreement

## Summary
- $2.3B unsecured revolving credit facility, with ability to increase by up to $750M.
- Facility matures July 27, 2028, with two possible one-year extensions subject to lender approval.
- Interest rate margins and commitment fees tied to credit ratings: margins 0.750%-1.250%, fees 0.060%-0.125%.
- Financial covenant: debt-to-capitalization ratio ≤60% (≤65% after acquisitions >$1B).
- Facility replaces 2019 credit agreement; JPMorgan Chase acts as administrative agent.

## SEC filing metadata
- accession: 0000079879-23-000051
- form_type: 8-K
- ticker: PPG
- cik: 0000079879
- company_name: PPG INDUSTRIES INC
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/79879/000007987923000051/0000079879-23-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/79879/000007987923000051/ppg-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000079879-23-000051
- JSON: https://secwatch.observer/filing/0000079879-23-000051.json
- Plain text: https://secwatch.observer/filing/0000079879-23-000051.txt

## Key facts
- Debt Financings
  PPG INDUSTRIES INC incurred credit facility of $2.3 billion unsecured revolving credit facility with several banks and financial institutions party thereto; JPMorgan Chase Bank, N.A., as administrative agent; JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, BNP Paribas Securities Corp, and Citibank, N.A. as joint lead arrangers and joint bookrunners; PNC Bank, National Association, BNP Paribas, at The Credit Agreement provides that loans denominated in U.S. Dollars will bear i maturing The Credit Agreement will terminate and all amounts outstanding thereunder will be due and payable on July 27, 2028; although, under circumstances specified in.
  - Instrument: credit facility
  - Principal: $2.3 billion unsecured revolving credit facility
  - Counterparty: several banks and financial institutions party thereto; JPMorgan Chase Bank, N.A., as administrative agent; JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, BNP Paribas Securities Corp, and Citibank, N.A. as joint lead arrangers and joint bookrunners; PNC Bank, National Association, BNP Paribas,
  - Rate: The Credit Agreement provides that loans denominated in U.S. Dollars will bear i
  - Maturity: The Credit Agreement will terminate and all amounts outstanding thereunder will be due and payable on July 27, 2028; although, under circumstances specified in
  - Event: incurrence
  source text: The Credit Agreement amends and restates the Company’s existing Amended and Restated Five Year Credit Agreement dated as of August 30, 2019. The Credit Agreement provides for a $2.3 billion unsecured revolving credit facility. The Company has the ability to increase the size of the credit facility provided by the Credit Agreement by up to an additional $750 million,
  evidence_url: https://www.sec.gov/Archives/edgar/data/79879/000007987923000051/0000079879-23-000051-index.htm
- Material Agreements
  PPG INDUSTRIES INC amended Amended and Restated Five Year Credit Agreement with JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, BNP Paribas Securities Corp, and Citibank, N.A. valued at $2.3 billion unsecured revolving credit facility, ability to increase by up to $750 million, extendi (effective 2023-07-27).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, BNP Paribas Securities Corp, and Citibank, N.A.
  - Value: $2.3 billion unsecured revolving credit facility, ability to increase by up to $750 million, extendi
  - Effective: 2023-07-27
  source text: On July 27, 2023, PPG Industries, Inc. (the “Company”) amended and restated its Five Year Credit Agreement, among the Company; the several banks and financial institutions party thereto; JPMorgan Chase Bank, N.A., as administrative agent; JPMorgan Chase Bank, N.A., PNC Capital Markets LLC, BNP Paribas Securities Corp, and Citibank, N.A. as joint lead arrangers and joint bookrunners; PNC Bank, National Association, BNP Paribas, and Citibank, N.A., as co-syndication agents; and Banco Bilbao Vizcaya Argentaria, S.A. New York Branch, Banco Santander, S.A., New York Branch, Bank of America, N.A., Goldman Sachs Bank USA, HSBC Bank USA, National Association, Intesa Sanpaolo S.P.A., New York Branch, Societe Generale, Sumitomo Mitsui Banking Corporation, The Toronto-Dominion Bank, New York Branch, Unicredit Bank AG, New York Branch, U.S. Bank National Association, and Wells Fargo Bank, National Association, as co-documentation agents (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/79879/000007987923000051/0000079879-23-000051-index.htm

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