HOME DEPOT, INC. (HD): debt financing — Home Depot enters $14.5B credit facilities to fund SRS acquisition

HOME DEPOT, INC.

Secured $14.5B total in three revolving credit facilities to support commercial paper funding of the pending SRS Distribution acquisition.
Facilities: $3.5B 364-day (matures May 2025), $1.0B three-year (matures May 2027), $10.0B capital markets (matures May 2025, extendable).
Interest rates based on credit ratings; current Term SOFR margins: 0.835% (364-day and capital markets), 0.810% (three-year).
Capital markets facility commitments reduce by net proceeds from senior unsecured debt offerings; unused facilities subject to facility fees.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HOME DEPOT, INC. incurred revolving credit of $3.5 billion with JPMorgan Chase Bank, N.A. as administrative agent at Term SOFR for the selected term which may be one, three or six months, plus a cr maturing May 6, 2025.

Instrument: revolving credit
Principal: $3.5 billion
Counterparty: JPMorgan Chase Bank, N.A. as administrative agent
Rate: Term SOFR for the selected term which may be one, three or six months, plus a cr
Maturity: May 6, 2025
Event: incurrence

Exact text from the filing

A 364-Day Revolving Credit Facility Agreement dated as of May 7, 2024 (the “364-Day Credit Agreement”), among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A. as administrative agent, establishing a $3.5 billion revolving credit facility (the “364-Day Credit Facility”).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HOME DEPOT, INC. incurred revolving credit of $1.0 billion with JPMorgan Chase Bank, N.A. as administrative agent at Term SOFR for the selected term which may be one, three or six months, plus a cr maturing May 7, 2027.

Instrument: revolving credit
Principal: $1.0 billion
Counterparty: JPMorgan Chase Bank, N.A. as administrative agent
Rate: Term SOFR for the selected term which may be one, three or six months, plus a cr
Maturity: May 7, 2027
Event: incurrence

Exact text from the filing

A Three-Year Revolving Credit Facility Agreement dated as of May 7, 2024 (the “Three-Year Credit Agreement”), among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A. as administrative agent, establishing a $1.0 billion revolving credit facility (the “Three-Year Credit Facility”).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HOME DEPOT, INC. incurred revolving credit of $10.0 billion with JPMorgan Chase Bank, N.A. as administrative agent at Term SOFR for the selected term which may be one, three or six months, plus a cr maturing May 6, 2025.

Instrument: revolving credit
Principal: $10.0 billion
Counterparty: JPMorgan Chase Bank, N.A. as administrative agent
Rate: Term SOFR for the selected term which may be one, three or six months, plus a cr
Maturity: May 6, 2025
Event: incurrence

Exact text from the filing

A Revolving Credit Facility Agreement dated as of May 7, 2024 (the “Capital Markets Credit Agreement”, and together with the 364-Day Credit Agreement and the Three-Year Credit Agreement, the “Credit Agreements”), among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A. as administrative agent, establishing a $10.0 billion revolving credit facility (the “Capital Markets Credit Facility”, and together with the 364-Day Credit Facility and the Three-Year Credit Facility, the “Credit Facilities”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HOME DEPOT, INC. entered into Capital Markets Credit Agreement with JPMorgan Chase Bank, N.A. (as administrative agent) and the banks party thereto valued at $10.0 billion (effective 2024-05-07).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the banks party thereto
Value: $10.0 billion
Effective: 2024-05-07

Exact text from the filing

• A Revolving Credit Facility Agreement dated as of May 7, 2024 (the “Capital Markets Credit Agreement”, and together with the 364-Day Credit Agreement and the Three-Year Credit Agreement, the “Credit Agreements”), among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A. as administrative agent, establishing a $10.0 billion revolving credit facility (the “Capital Markets Credit Facility”, and together with the 364-Day Credit Facility and the Three-Year Credit Facility, the “Credit Facilities”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HOME DEPOT, INC. entered into 364-Day Credit Agreement with JPMorgan Chase Bank, N.A. (as administrative agent) and the banks party thereto valued at $3.5 billion (effective 2024-05-07).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the banks party thereto
Value: $3.5 billion
Effective: 2024-05-07

Exact text from the filing

• A 364-Day Revolving Credit Facility Agreement dated as of May 7, 2024 (the “364-Day Credit Agreement”), among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A. as administrative agent, establishing a $3.5 billion revolving credit facility (the “364-Day Credit Facility”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

HOME DEPOT, INC. entered into Three-Year Credit Agreement with JPMorgan Chase Bank, N.A. (as administrative agent) and the banks party thereto valued at $1.0 billion (effective 2024-05-07).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the banks party thereto
Value: $1.0 billion
Effective: 2024-05-07

Exact text from the filing

• A Three-Year Revolving Credit Facility Agreement dated as of May 7, 2024 (the “Three-Year Credit Agreement”), among the Company, the banks party thereto, and JPMorgan Chase Bank, N.A. as administrative agent, establishing a $1.0 billion revolving credit facility (the “Three-Year Credit Facility”).

View on SEC.gov

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HOME DEPOT, INC. filing history →

Source: SEC EDGAR

accession 0000354950-24-000114

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