On May 14, 2024, Accenture plc, a leading global professional services company, entered into a significant financial agreement. The company, acting as a guarantor, along with its subsidiaries as borrowers, secured a $5.5 billion senior unsecured revolving credit facility through a credit agreement with JPMorgan Chase Bank, N.A., serving as the administrative agent, and other named lenders. This new credit facility extends for a term of five years and supersedes Accenture's previous $3.0 billion credit facility, which was set to mature in April 2026. The funds from this facility are earmarked for general corporate purposes, including supporting Accenture's commercial paper program, which will also see an increase in its issuance capacity to $5.5 billion. The agreement includes customary terms such as representations, warranties...Show More

On May 14, 2024, Accenture plc, a leading global professional services company, entered into a significant financial agreement. The company, acting as a guarantor, along with its subsidiaries as borrowers, secured a $5.5 billion senior unsecured revolving credit facility through a credit agreement with JPMorgan Chase Bank, N.A., serving as the administrative agent, and other named lenders. This new credit facility extends for a term of five years and supersedes Accenture's previous $3.0 billion credit facility, which was set to mature in April 2026. The funds from this facility are earmarked for general corporate purposes, including supporting Accenture's commercial paper program, which will also see an increase in its issuance capacity to $5.5 billion. The agreement includes customary terms such as representations, warranties, covenants, and conditions, including maintaining a maximum consolidated leverage ratio. Interest rates for borrowings will be based on SOFR or a base rate for U.S. dollar borrowings, and respective benchmarks for other currencies, with rates adjusted according to Accenture's credit ratings. The credit agreement also entails customary fees and maintains relationships with the lenders, who have provided various financial services to Accenture in the past.