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IBM Corp | 8-K: IBM Extends Existing Five-Year and Three-Year Credit Agreements

SEC ·  Jun 22, 2024 04:09

Summary by Moomoo AI

IBM has successfully extended the maturity dates of two major credit facilities totaling $10 billion. The company extended its $2.5 billion Three-Year Credit Agreement by one year to June 20, 2027, and its $7.5 billion Five-Year Credit Agreement to June 22, 2029.The credit facilities involve several major financial institutions, with JPMorgan Chase Bank, N.A. serving as Administrative Agent, while BNP Paribas, Citibank N.A., and Royal Bank of Canada act as Syndication Agents. The extensions were executed on June 17, 2024, with all other terms of both credit agreements remaining unchanged.
IBM has successfully extended the maturity dates of two major credit facilities totaling $10 billion. The company extended its $2.5 billion Three-Year Credit Agreement by one year to June 20, 2027, and its $7.5 billion Five-Year Credit Agreement to June 22, 2029.The credit facilities involve several major financial institutions, with JPMorgan Chase Bank, N.A. serving as Administrative Agent, while BNP Paribas, Citibank N.A., and Royal Bank of Canada act as Syndication Agents. The extensions were executed on June 17, 2024, with all other terms of both credit agreements remaining unchanged.
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