Mondelez International (MDLZ) has released an update.
A company has entered into a $1.5 billion unsecured revolving credit agreement with a one-year term, which can be increased by $500 million and potentially extended for an additional year. Interest rates are variable and tied to SOFR or a base rate plus a margin based on the company’s credit rating. The facility, which requires maintaining a minimum shareholder equity of $25 billion excluding certain items, will be used for general corporate needs and to support the company’s commercial paper program. Some lenders involved also provide other financial services to the company.
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