---
schema_version: "secwatch.filing_event.v1"
accession: "0001058090-25-000047"
form_type: "8-K"
ticker: "CMG"
cik: "0001058090"
company_name: "CHIPOTLE MEXICAN GRILL INC"
filed_at: "2025-06-27T23:59:59+00:00"
generated_at: "2026-05-18T15:29:16.667993+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Chipotle enters $500M revolver due 2030, replaces prior facility

## Summary
- New $500M unsecured revolver matures June 24, 2030; includes $20M letter of credit subfacility.
- Interest: SOFR + 1.125%-1.875% or ABR + 0.125%-0.875% based on total leverage ratio.
- Commitment fee on undrawn amounts ranges from 0.115% to 0.250% per annum.
- Financial covenants: max total leverage 3.00x, min consolidated fixed charge coverage 1.50x.
- Prior $500M revolver terminated on June 24, 2025; no borrowings outstanding and no early termination penalties.

## SEC filing metadata
- accession: 0001058090-25-000047
- form_type: 8-K
- ticker: CMG
- cik: 0001058090
- company_name: CHIPOTLE MEXICAN GRILL INC
- filed_at: 2025-06-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1058090/000105809025000047/0001058090-25-000047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1058090/000105809025000047/cmg-20250624.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001058090-25-000047
- JSON: https://secwatch.observer/filing/0001058090-25-000047.json
- Plain text: https://secwatch.observer/filing/0001058090-25-000047.txt

## Key facts
- Debt Financings
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1058090/000105809025000047/0001058090-25-000047-index.htm

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