---
schema_version: "secwatch.filing_event.v1"
accession: "0000940944-23-000064"
form_type: "8-K"
ticker: "DRI"
cik: "0000940944"
company_name: "DARDEN RESTAURANTS INC"
filed_at: "2023-10-24T23:59:59+00:00"
generated_at: "2026-06-09T15:58:37.085010+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Darden enters $1.25B revolving credit facility, upsizes from $1B prior facility

## Summary
- New $1.25B unsecured revolver replaces $1B facility; matures October 23, 2028.
- No borrowings outstanding at closing; facility includes $150M letter-of-credit sublimit.
- Interest rate based on credit rating; proceeds for working capital, capex, acquisitions.
- Financial covenant limits consolidated total debt to capitalization ratio to 0.75:1.
- Agreement includes customary covenants, events of default, and an accordion feature.

## SEC filing metadata
- accession: 0000940944-23-000064
- form_type: 8-K
- ticker: DRI
- cik: 0000940944
- company_name: DARDEN RESTAURANTS INC
- filed_at: 2023-10-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/0000940944-23-000064-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/dri-20231023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000940944-23-000064
- JSON: https://secwatch.observer/filing/0000940944-23-000064.json
- Plain text: https://secwatch.observer/filing/0000940944-23-000064.txt

## Key facts
- Debt Financings
  DARDEN RESTAURANTS INC incurred credit facility of $1,250,000,000 with Bank of America, N.A., as administrative agent, and the lenders at Interest rates on borrowings under the Credit Agreement will be based on prevail maturing The Credit Agreement matures on October 23, 2028.
  - Instrument: credit facility
  - Principal: $1,250,000,000
  - Counterparty: Bank of America, N.A., as administrative agent, and the lenders
  - Rate: Interest rates on borrowings under the Credit Agreement will be based on prevail
  - Maturity: The Credit Agreement matures on October 23, 2028
  - Event: incurrence
  source text: On October 23, 2023, Darden Restaurants, Inc. (“we,” “us” or the “Company”) entered into a $1,250,000,000 Revolving Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, and the lenders (the “Lenders”) and other agents party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/0000940944-23-000064-index.htm
- Material Agreements
  DARDEN RESTAURANTS INC terminated Prior Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party to the Prior Credit Agreement valued at $1,000,000,000 (effective 2023-10-23).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the lenders party to the Prior Credit Agreement
  - Value: $1,000,000,000
  - Effective: 2023-10-23
  source text: On October 23, 2023, upon effectiveness of the Credit Agreement described under Item 1.01 above, the Company terminated its prior $1,000,000,000 credit agreement, dated as of September 10, 2021 and amended as of May 21, 2023 (the “Prior Credit Agreement”), by and among us, Bank of America, N.A., as administrative agent, and the lenders party to the Prior Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/0000940944-23-000064-index.htm
- Material Agreements
  DARDEN RESTAURANTS INC entered into Revolving Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party thereto valued at $1,250,000,000 (effective 2023-10-23).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as administrative agent, and the lenders party thereto
  - Value: $1,250,000,000
  - Effective: 2023-10-23
  source text: On October 23, 2023, Darden Restaurants, Inc. (“we,” “us” or the “Company”) entered into a $1,250,000,000 Revolving Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, and the lenders (the “Lenders”) and other agents party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/0000940944-23-000064-index.htm

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