Cummins enters $4B in revolving credit facilities; $2B 5-year and $2B 364-day

CUMMINS INC

$2.0B 5-year credit agreement matures June 3, 2029; $2.0B 364-day facility matures June 2, 2025.
Both facilities are unsecured; borrowings can be in USD, EUR, or GBP with rates based on credit ratings (currently A2/A).
Applicable rate for 364-day facility: 0.75%; for 5-year facility: 0.875% (based on current ratings).
Financial covenant: consolidated net debt to total capital ratio not greater than 0.65:1 at each quarter end.
Each facility can be increased by up to $1.0B, subject to lender consent and no default.

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