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An update from Nike (NKE) is now available.
NIKE, Inc. has secured a new 364-day unsecured revolving credit facility worth up to $1 billion, with the possibility of increasing it to $1.5 billion. This facility, which supports working capital and general corporate purposes, including commercial paper issuance, allows for borrowing in multiple currencies and offers options for interest rates based on Term SOFR or a base rate. The agreement also permits subsidiary borrowers and contains covenants that limit certain company activities. Simultaneously, NIKE terminated its previous credit agreement, which had similar borrowing capacity and restrictions, but with no outstanding borrowings at termination.
Learn more about NKE stock on TipRanks’ Stock Analysis page.