Form 8-K · Current Report · Filed 2025-01-31
Intuit Enters Into $4.5B Revolving Credit Facility
On January 30, 2025, Intuit Inc. entered into a Credit Agreement establishing a $4.5 billion unsecured short-term revolving credit facility, maturing on April 30, 2025. The funds can only be used for Intuit's TurboTax 5-Day Early refund offering, enabling eligible customers to access their federal tax refunds five days before IRS settlement. Intuit only provides these funds after the IRS confirms and initiates the approved refund payment. The Credit Agreement includes interest rates based on SOFR or a base rate, a commitment fee, and customary financial covenants.
- Filer
- Intuit Inc. INTU · NASDAQ
- Filed
- Accession
- 0000896878-25-000006
- CIK
- 0000896878
- Signal
- Medium impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Entry into a Material Definitive Agreement
Creation of a Direct Financial Obligation
Financial Statements and Exhibits
Market reaction
Close before filing
$604.60
Next session
-0.6%
Since filing
-47.7%
Latest close
$316.07
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from INTU reporting the same item, with the next session's move:
Exhibits (1)
About Intuit Inc.
Intuit Inc. is a leading financial software company known for developing products that simplify financial management and compliance tasks. Its broad spectrum of services includes solutions such as QuickBooks for small business accounting, TurboTax for tax preparation, and Mint for personal financial planning. These products cater to a diverse range of customers, including individuals, small businesses, and accounting professionals, providing ease of use and comprehensive functionality. Intuit operates in sectors that span personal finance, accounting, and tax preparation, playing a crucial role in helping users manage their financial data effectively. Headquartered in Mountain View, California, Intuit is recognized for its sustained innovation and customer-focused approach, ensuring its solutions keep pace with the ever-evolving financial landscape. As an influential player in the financial technology market, Intuit continues to leverage its expertise to offer AI-driven insights and cloud-based services, thereby enhancing customer experiences across various digital platforms.
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