---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-134837"
form_type: "8-K"
ticker: null
cik: "0000800240"
company_name: "ODP Corp"
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T07:43:05.728748+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# ODP renews $800M ABL credit facility, extends maturity to May 2029 with improved terms

## Summary
- Entered $800M 5-year asset-based revolver, maturing May 9, 2029, replacing existing facility.
- Interest rate margins reduced by 0.25% across all rate options.
- Facility includes two tranches: U.S. $775M and CAD $25M, with accordion up to $250M.
- Proceeds for working capital and general corporate purposes; oversubscribed with strong lender support.
- CEO cites validation of strong financial position; improved terms enhance liquidity and flexibility.

## SEC filing metadata
- accession: 0001193125-24-134837
- form_type: 8-K
- cik: 0000800240
- company_name: ODP Corp
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/800240/000119312524134837/0001193125-24-134837-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/800240/000119312524134837/d829828d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-134837
- JSON: https://secwatch.observer/filing/0001193125-24-134837.json
- Plain text: https://secwatch.observer/filing/0001193125-24-134837.txt

## Key facts
- Debt Financings
  ODP Corp amended revolving credit of up to $800 million with JPMorgan Chase Bank, N.A., as Administrative Agent at between 0.75% and 1.25% for Revolving Loans at the Alternate Base Rate and betwe maturing May 9, 2029.
  - Instrument: revolving credit
  - Principal: up to $800 million
  - Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
  - Rate: between 0.75% and 1.25% for Revolving Loans at the Alternate Base Rate and betwe
  - Maturity: May 9, 2029
  - Event: amendment
  source text: The Fourth Amended Credit Agreement provides, among other things, the Borrowers with a 5-year revolving loan facility (the “Revolving Loan Facility”) in the aggregate principal amount of up to $800 million, maturing on May 9, 2029 (the “Maturity Date”) and reduces the interest rate margins applicable to revolving loans by 0.25% from the margins set forth in the Existing Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/800240/000119312524134837/0001193125-24-134837-index.htm
- Material Agreements
  ODP Corp entered into Fourth Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at $800,000,000 (effective 2024-05-09).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Value: $800,000,000
  - Effective: 2024-05-09
  source text: On May 9, 2024 (the "Closing Date"), The ODP Corporation ("ODP"), ODP Investment, LLC ("ODP Invest"), Office Depot, LLC ("Office Depot" and, together with ODP and ODP Invest, collectively, the "U.S. Borrower"), and Grand & Toy Limited/Grand & Toy Limitée ("G&T" or "Canadian Borrower" and, together with the U.S. Borrower, collectively, the "Borrowers") entered into a Fourth Amended and Restated Credit Agreement (the "Fourth Amended Credit Agreement") with certain of its subsidiaries as borrowers and guarantors (the "Guarantors" and, together with the Borrowers, the "Loan Parties"), the several banks and other institutions parties thereto as Lenders, JPMorgan Chase Bank, N.A., as Administrative Agent ("JPMorgan" or the "Agent")
  evidence_url: https://www.sec.gov/Archives/edgar/data/800240/000119312524134837/0001193125-24-134837-index.htm

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