CUMMINS INC (CMI): debt financing — Cummins renews $4B revolving credit facilities; 5-year to 2030, 3-year to 2028

CUMMINS INC

New 5-Year Credit Agreement allows up to $2.0B in revolving loans, swingline loans, letters of credit; matures June 2, 2030.
New 3-Year Credit Agreement also $2.0B facility; matures June 2, 2028, replacing expired 364-day facility.
Interest rates tied to Alternate Base Rate, Term SOFR, EURIBOR; Applicable Rate currently 0.75% given A2/A ratings.
Covenant requires consolidated net debt to total capital ratio not to exceed 0.65:1.
Borrowings unsecured; Company guarantees subsidiary loans; each facility can be increased by up to $1.0B if conditions met.

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

CUMMINS INC incurred revolving credit of up to $2.0 billion with JPMorgan Chase Bank, N.A. at SOFR plus 0.50% to 1.00% maturing June 2, 2030.

Instrument: revolving credit
Principal: up to $2.0 billion
Counterparty: JPMorgan Chase Bank, N.A.
Rate: SOFR plus 0.50% to 1.00%
Maturity: June 2, 2030
Event: incurrence

Exact text from the filing

“5-Year Maturity Date”), the Borrowers may obtain revolving and swingline loans and letters of credit, in each case subject to certain amount limitations, in an amount up to $2.0 billion in the aggregate outstanding at any time prior to the 5-Year Maturity Date. The 5-Year Credit Agreement amends and restates in its entirety that certain Second Amended and

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CUMMINS INC incurred revolving credit of up to $2.0 billion with JPMorgan Chase Bank, N.A. at SOFR plus 0.50% to 1.00% maturing June 2, 2028.

Instrument: revolving credit
Principal: up to $2.0 billion
Counterparty: JPMorgan Chase Bank, N.A.
Rate: SOFR plus 0.50% to 1.00%
Maturity: June 2, 2028
Event: incurrence

Exact text from the filing

“5-Year Maturity Date”), the Borrowers may obtain revolving and swingline loans and letters of credit, in each case subject to certain amount limitations, in an amount up to $2.0 billion in the aggregate outstanding at any time prior to the 5-Year Maturity Date. The 5-Year Credit Agreement amends and restates in its entirety that certain Second Amended and

View on SEC.gov

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CUMMINS INC filing history →

Source: SEC EDGAR

accession 0001104659-25-055520

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