3M signs USD 4.25 billion five-year revolving credit facility with JPMorgan Chase-led banks
Reuters2026/08/19 12:04- Entered a new credit agreement on Aug. 17, 2026 for a USD 4.25 billion unsecured revolving credit facility, led by JPMorgan Chase.
- Facility is available until maturity, with any borrowings due on the fifth anniversary of the effective date.
- Replaced a prior USD 4.25 billion five-year revolving credit agreement dated May 11, 2023; the prior facility was terminated.
- Pricing set off Base Rate, Term SOFR, or EURIBO Rate, with rating-based margins up to 1.125% for SOFR or EURIBO loans.
- Includes a minimum 3.0x EBITDA-to-interest covenant; lenders can demand repayment on 30 days’ notice following a change of control.
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