---
schema_version: "secwatch.filing_event.v1"
accession: "0000320187-23-000006"
form_type: "8-K"
ticker: "NKE"
cik: "0000320187"
company_name: "NIKE, Inc."
filed_at: "2023-03-13T23:59:59+00:00"
generated_at: "2026-06-18T04:58:26.715683+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# NIKE enters $1B 364-day credit facility, replaces prior facility maturing March 2023

## Summary
- New unsecured revolving facility up to $1B; maturity March 8, 2024; no outstanding borrowings.
- Multi-currency option: CAD, EUR, GBP, JPY; interest at Term SOFR + margin (35.75–69.0 bps) or base rate.
- Facility may be increased to $1.5B with bank consent; no financial covenants included.
- Prior $1B facility terminated concurrently with no amounts outstanding.
- Proceeds for working capital, general corporate purposes, and commercial paper backup.

## SEC filing metadata
- accession: 0000320187-23-000006
- form_type: 8-K
- ticker: NKE
- cik: 0000320187
- company_name: NIKE, Inc.
- filed_at: 2023-03-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/320187/000032018723000006/0000320187-23-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/320187/000032018723000006/nke-20230310.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000320187-23-000006
- JSON: https://secwatch.observer/filing/0000320187-23-000006.json
- Plain text: https://secwatch.observer/filing/0000320187-23-000006.txt

## Key facts
- Debt Financings
  NIKE, Inc. incurred revolving credit of up to $1 billion with Bank of America, N.A. at Term SOFR plus 0.10% plus an applicable margin maturing March 8, 2024.
  - Instrument: revolving credit
  - Principal: up to $1 billion
  - Counterparty: Bank of America, N.A.
  - Rate: Term SOFR plus 0.10% plus an applicable margin
  - Maturity: March 8, 2024
  - Event: incurrence
  source text: N.A., as administrative agent, and the other financial institutions named therein as lenders (the “364‐Day Credit Agreement”). The 364‐Day Credit Agreement provides for up to $1 billion of borrowings pursuant to a 364-day unsecured revolving credit facility (the “364‐Day Credit Facility”), which is available for working capital and general corporate purposes,
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018723000006/0000320187-23-000006-index.htm
- Material Agreements
  NIKE, Inc. terminated Prior 364-Day Credit Agreement with the banks, financial institutions and other lenders signatory thereto valued at up to $1.0 billion (effective 2023-03-10).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: the banks, financial institutions and other lenders signatory thereto
  - Value: up to $1.0 billion
  - Effective: 2023-03-10
  source text: On March 10, 2023, concurrently with the Company’s entry into the 364-Day Credit Agreement described in Item 1.01 hereof, the Company terminated the existing Credit Agreement dated March 11, 2022, which provided for up to $1.0 billion of borrowings in U.S. Dollars pursuant to a 364‐day unsecured revolving credit facility, with the banks, financial institutions and other lenders signatory thereto (the “Prior 364‐Day Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018723000006/0000320187-23-000006-index.htm
- Material Agreements
  NIKE, Inc. entered into 364-Day Credit Agreement with Bank of America, N.A., as administrative agent, and the other financial institutions named therein as lenders valued at up to $1 billion (effective 2023-03-10).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the other financial institutions named therein as lenders
  - Value: up to $1 billion
  - Effective: 2023-03-10
  source text: On March 10, 2023, NIKE, Inc. (the “Company”) entered into a Credit Agreement with Bank of America, N.A., as administrative agent, and the other financial institutions named therein as lenders (the “364‐Day Credit Agreement”). The 364‐Day Credit Agreement provides for up to $1 billion of borrowings
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018723000006/0000320187-23-000006-index.htm

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