Mastercard enters new $8B, 5-year revolving credit facility, up from $6B

Mastercard Inc

New $8.0B revolving credit facility matures Nov 10, 2027; amends prior $6.0B facility.
Borrowings available in USD and Euros; interest based on SOFR plus margin tied to credit rating.
Restrictive covenants limit liens, mergers, asset sales, affiliate transactions; customary defaults.
Majority of lenders are customers or affiliates of Mastercard's operating subsidiary.
Facility provides increased borrowing capacity for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

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

Mastercard Inc amended Credit Facility with Citibank, N.A., JPMorgan Chase Bank, N.A., and other lenders valued at $8,000,000,000 (effective 2022-11-10).

Action: amendment
Agreement: credit facility
Counterparty: Citibank, N.A., JPMorgan Chase Bank, N.A., and other lenders
Value: $8,000,000,000
Effective: 2022-11-10

Exact text from the filing

On November 10, 2022, Mastercard Incorporated (the “Company”) entered into a committed five-year unsecured $8,000,000,000 revolving credit facility (the “Credit Facility”) with Citibank, N.A. as managing administrative agent; JPMorgan Chase Bank, N.A. as administrative agent; Citibank, N.A. and JPMorgan Chase Bank, N.A. as joint lead arrangers, joint book managers and global coordinators

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Source: SEC EDGAR

accession 0000950103-22-019608

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