Loan & DebtJul 31, 2026, 04:15 PM
Newell Brands Secures $800M ABL Credit Facility, Refinances Debt
AI Summary
Newell Brands Inc. has entered into a new five-year asset-based revolving credit facility (ABL Credit Facility) for up to $800.0 million, with an additional uncommitted accordion feature of up to $500.0 million. On July 30, 2026, the company utilized $490.0 million from this new facility to repay and refinance its existing credit agreement. The ABL Credit Facility, maturing on July 30, 2031, will be used for working capital and general corporate purposes, providing enhanced financial flexibility.
Key Highlights
- Newell Brands secured a new five-year asset-based revolving credit facility (ABL) for up to $800.0 million.
- The ABL Credit Facility includes an uncommitted accordion feature allowing for an additional $500.0 million.
- On the closing date, the company borrowed $490.0 million to refinance its existing credit agreement.
- The facility matures on July 30, 2031, subject to certain conditions.
- Borrowings bear interest based on SOFR or alternate base rate plus an applicable margin (1.50%-2.00% for SOFR).
- An unused commitment fee ranges from 0.25% to 0.30% based on average quarterly availability.
- The agreement requires compliance with a minimum Consolidated Fixed Charge Coverage Ratio of 1.00 to 1.00 during certain periods.
Price Impact
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