Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
CHIPOTLE MEXICAN GRILL INC incurred revolving credit of $500 million revolving credit facility with JPMorgan Chase Bank, N.A. at Term SOFR Rate plus a spread of 1.125% to 1.875% based on total leverage ratio, maturing June 24, 2030.
- Instrument
- revolving credit
- Principal
- $500 million revolving credit facility
- Counterparty
- JPMorgan Chase Bank, N.A.
- Rate
- Term SOFR Rate plus a spread of 1.125% to 1.875% based on total leverage ratio,
- Maturity
- June 24, 2030
- Event
- incurrence
Exact text from the filing
The New Credit Agreement provides for a $500 million revolving credit facility (the “New Revolving Facility”), including a letter of credit sub-facility of up to $20 million. The New Revolving Facility will mature on June 24, 2030, and is guaranteed by certain of Chipotle’s domestic subsidiaries. Borrowings under the New Revolving Facility will bear interest at a rate per annum equal to, at Chipotle’s election, either an annual rate equal to the Term SOFR Rate (as defined in the New Credit Agreement) plus a spread of 1.125% to 1.875% based on Chipotle’s total leverage ratio, or an annual rate equal to the Alternate Base Rate (as defined in the New Credit Agreement) plus a spread of 0.125% to 0.875% based on Chipotle’s total leverage ratio.
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