Nike Inc.
NIKE, Inc. Enters New Credit Agreements and Terminates Existing Ones
Summary
On March 7, 2025, NIKE, Inc. entered into a new 364-Day Credit Agreement with a borrowing limit of up to $1 billion and a Five Year Credit Agreement with a borrowing limit of up to $2 billion. These agreements replaced the existing 364-Day Credit Agreement and Five Year Credit Agreement, both of which were terminated on the same date. The new agreements are unsecured revolving credit facilities available for working capital and general corporate purposes, with interest rates based on Term SOFR plus a margin or a base rate. The Five Year Credit Agreement also allows for up to two one-year extensions of the maturity date, up to a maximum of March 7, 2032. Both new agreements include covenants that limit or restrict the ability of the Company and its subsidiaries to incur additional liens, engage in mergers, acquisitions, and dispositions, and use proceeds of loans under the agreements.
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Exhibits (2)
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About Nike Inc.
Nike Inc. is a global leader in the design, development, and marketing of athletic footwear, apparel, equipment, and accessories. As a major player in the sports and lifestyle industries, Nike's primary function is to provide high-performance athletic gear that enhances athletic pursuits across various disciplines, including running, basketball, soccer, and tennis, among others. Noteworthy for its innovative product line, Nike consistently pushes the boundaries of sports technology, offering products like the Air Max and Flyknit shoes that integrate advanced materials and design for optimal performance. Beyond physical products, Nike is heavily involved in digital transformation efforts, delivering enhanced experiences through platforms like the Nike Training Club and Nike App. Serving a diverse customer base from professional athletes to everyday fitness enthusiasts, the company maintains a significant presence worldwide. With headquarters in Beaverton, Oregon, Nike also sponsors prominent sports teams and figures, reinforcing its influence on global sports culture.
Official SEC Documents
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