---
schema_version: "secwatch.filing_event.v1"
accession: "0000320187-24-000009"
form_type: "8-K"
ticker: "NKE"
cik: "0000320187"
company_name: "NIKE, Inc."
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-05T00:09:18.997944+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# NIKE enters $1.0B 364-day unsecured credit facility; prior facility terminated

## Summary
- New $1.0B 364-day unsecured revolving credit facility signed March 8, 2024, maturing March 7, 2025.
- Facility can be increased to up to $1.5B with lender agreement; available for working capital and commercial paper backing.
- Prior 364-day credit agreement dated March 10, 2023 was terminated concurrently; no amounts were outstanding.
- Borrowings bear interest at Term SOFR plus 0.10% plus applicable margin ranging from 0.3575% to 0.690% based on credit ratings.
- Facility includes no financial covenants; customary negative covenants on liens, mergers, and asset sales.

## SEC filing metadata
- accession: 0000320187-24-000009
- form_type: 8-K
- ticker: NKE
- cik: 0000320187
- company_name: NIKE, Inc.
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/320187/000032018724000009/0000320187-24-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/320187/000032018724000009/nke-20240308.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000320187-24-000009
- JSON: https://secwatch.observer/filing/0000320187-24-000009.json
- Plain text: https://secwatch.observer/filing/0000320187-24-000009.txt

## Key facts
- Debt Financings
  NIKE, Inc. incurred revolving credit of up to $1.0 billion of borrowings with Bank of America, N.A., as administrative agent, and the other financial institutions named therein as lenders at Term SOFR plus 0.10% plus an applicable margin maturing March 7, 2025.
  - Instrument: revolving credit
  - Principal: up to $1.0 billion of borrowings
  - Counterparty: Bank of America, N.A., as administrative agent, and the other financial institutions named therein as lenders
  - Rate: Term SOFR plus 0.10% plus an applicable margin
  - Maturity: March 7, 2025
  - Event: incurrence
  source text: On March 8, 2024, 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 $1.0 billion of borrowings pursuant to a 364-day unsecured revolving credit facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018724000009/0000320187-24-000009-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 $1.0 billion (effective 2024-03-08).
  - 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 $1.0 billion
  - Effective: 2024-03-08
  source text: On March 8, 2024, 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018724000009/0000320187-24-000009-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 2024-03-08).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: the banks, financial institutions and other lenders signatory thereto
  - Value: up to $1.0 billion
  - Effective: 2024-03-08
  source text: On March 8, 2024, 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 10, 2023, 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/320187/000032018724000009/0000320187-24-000009-index.htm

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