Newell Brands renews $75M receivables facility to Oct 1, 2027; raises rating thresholds

NEWELL BRANDS INC.

Jarden Receivables renewed Receivables Purchase Agreement with Newell Brands as servicer and Royal Bank of Canada as administrative agent; Scheduled Termination Date extended to October 1, 2027.
Facility Limit on factored receivables adjusted to $75 million; Concentration Limits increased for all Obligor groups, increasing aggregate Outstanding Balance available for each Obligor group.
Debt Rating definition changed from senior unsecured debt rating to corporate rating from S&P or Moody's; Level 1 now requires above BBB- (S&P) and above Baa3 (Moody's).
Level 2 requires BB+ or above (S&P) and Ba1 or above (Moody's); Level 3 triggered at BB or below (S&P) or Ba2 or below (Moody's).
Newell reaffirmed its Performance Undertaking dated October 2, 2023 remains in full force and effect as Performance Guarantor.

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