Mondelez International, Inc. (MDLZ): debt financing — Mondelez replaces $1.5B 364-day credit facility with new $1.5B facility expiring Feb 2025

Mondelez International, Inc.

Entered $1.5B 364-day senior unsecured revolving credit agreement on Feb 21, 2024, JPMorgan as administrative agent.
Terminates on Feb 19, 2025; can extend outstanding loans to Feb 19, 2026; capacity can be increased by $500M with lender consent.
Interest rate variable: SOFR plus 0.84% – 1.285% margin based on long-term debt rating; also base rate option.
Covenant requires minimum shareholders' equity of $25B (excluding AOCI and pension mark-to-market).
Replaces a prior $1.5B 364-day facility dated Feb 22, 2023 which was terminated; funds for general corporate and commercial paper support.

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

Mondelez International, Inc. incurred revolving credit of $1.5 billion with JPMorgan Chase Bank, N.A., as administrative agent at variable annual rate based on SOFR or base rate, at our election, plus an applic maturing February 19, 2025.

Instrument: revolving credit
Principal: $1.5 billion
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: variable annual rate based on SOFR or base rate, at our election, plus an applic
Maturity: February 19, 2025
Event: incurrence

Exact text from the filing

On February 21, 2024, we entered into a revolving credit agreement (the "364-Day Revolving Credit Agreement") for a 364-day senior unsecured revolving credit facility in an aggregate principal amount of $1.5 billion with the lenders named in the 364-Day Revolving Credit Agreement and JPMorgan Chase Bank, N.A., as administrative agent.

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Mondelez International, Inc. filing history →

Source: SEC EDGAR

accession 0001103982-24-000027

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