---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-106304"
form_type: "8-K"
ticker: "CMI"
cik: "0000026172"
company_name: "CUMMINS INC"
filed_at: "2022-10-05T23:59:59+00:00"
generated_at: "2026-06-23T05:27:03.773701+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Cummins subsidiaries enter $1B credit facility to finance filtration business spin-off

## Summary
- $1B facility comprised of $400M revolver and $600M term loan, maturing Sept 30, 2027.
- Borrowings only available upon public sale of filtration subsidiary shares; deal terminates if no sale by March 30, 2023.
- Cummins Inc. initially guarantees obligations; guarantee ends if collateral and subsidiary guarantee conditions met.
- Interest rates based on SOFR/EURIBOR plus margin: ABR 0.125%-0.750%, term benchmark 1.125%-1.750%.
- Financial covenants: net leverage ≤ 4.00x (or 4.50x optional) and interest coverage ≥ 3.00x.

## SEC filing metadata
- accession: 0001104659-22-106304
- form_type: 8-K
- ticker: CMI
- cik: 0000026172
- company_name: CUMMINS INC
- filed_at: 2022-10-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/26172/000110465922106304/0001104659-22-106304-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/26172/000110465922106304/tm2227273d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-106304
- JSON: https://secwatch.observer/filing/0001104659-22-106304.json
- Plain text: https://secwatch.observer/filing/0001104659-22-106304.txt

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