Brown-Forman enters $900M revolver, up from $800M; matures May 2028

BROWN FORMAN CORP

New $900M unsecured revolving credit facility replaces existing $800M facility; matures May 26, 2028.
Two one-year extension options and an accordion feature allowing up to $650M additional commitments.
Borrowings available in USD, Euro, Sterling, AUD, and other freely convertible currencies.
No financial covenants; interest rates based on Term SOFR, EURIBOR, AUD rate, or SONIA plus applicable margins.
Existing $800M facility was set to expire November 2024; new facility extends to 2028.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BROWN FORMAN CORP entered into Second Amended and Restated Five-Year Credit Agreement with the lenders party thereto and U.S. Bank National Association, as Administrative Agent valued at an aggregate of up to $900,000,000 (effective 2023-05-26).

Action: entry
Agreement: credit facility
Counterparty: the lenders party thereto and U.S. Bank National Association, as Administrative Agent
Value: an aggregate of up to $900,000,000
Effective: 2023-05-26

Exact text from the filing

On May 26, 2023, Brown-Forman Corporation (the “Company”) entered into a Second Amended and Restated Five-Year Credit Agreement dated as of such date (the “Credit Agreement”) with the lenders party thereto and U.S. Bank National Association, as Administrative Agent.

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803 material agreements filed in the last 30 days. Browse all material agreements →

BROWN FORMAN CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-156688

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