01—Abstract
Summary
Summary of the 8-K filed June 24, 2025. Cited figures are marked; the original filing is the authoritative source.
On June 18, 2025, Jabil Inc. entered into a senior unsecured credit agreement providing a five-year revolving credit facility in an initial amount of $3.2 billion, which may be increased by up to $1.0 billiona at the lenders' discretion.
The facility is available in Dollars, Euros, Yen, or other currencies approved by the administrative agent and lenders. It matures five years from closing, with unlimited successive one-year extension options subject to lender discretion, and the tenor may not at any time exceed five years. As of the date of the agreement, the facility was undrawn.
Pricing is tied to the company's non-credit enhanced long-term senior unsecured debt rating from S&P Global Ratings, Moody's Ratings and Fitch Ratings. Based on current ratings, the rate is 0.075% above the base rate or 1.075% above the benchmark rate. The company terminated its January 22, 2020 credit agreement covering existing three- and five-year revolving facilities totaling $3.2 billionb, with no early termination penalties incurred.
Citibank, N.A. serves as administrative agent. The filing also covers related Item 1.02 (termination of a material definitive agreement) and Item 2.03 (creation of a direct financial obligation), both incorporating the Item 1.01 disclosure. The full agreement is filed as Exhibit 10.1.
02—Key points
Key Highlights
- Jabil entered into a new five-year senior unsecured revolving credit facility on June 18, 2025, with an initial amount of $3.2 billion.
- The facility can be increased by up to $1.0 billion, subject to lender discretion.
- The revolver is multicurrency, available in Dollars, Euros, Yen, or other approved currencies.
- The facility was undrawn as of the agreement date.
- Current pricing is 0.075% above the base rate or 1.075% above the benchmark rate, based on the company's credit ratings.
- The new facility replaced the January 22, 2020 credit agreement, which had $3.2 billion in combined three- and five-year revolving facilities, terminated with no early termination penalties.
- Citibank, N.A. is administrative agent, with Bank of America, JPMorgan Chase, and other institutions as co-agents and arrangers.
03—Questions
Frequently Asked Questions
How large is Jabil's new revolving credit facility?
The initial amount is $3.2 billion, and it may be increased by up to an additional $1.0 billion at the lenders' discretion.
Was any of the revolving credit facility drawn at signing?
No. The filing states that the Revolving Credit Facility was undrawn as of the date of the agreement.
How long does the new facility last?
It matures five years from the closing date, with unlimited one-year extension options subject to lender discretion, but its tenor may never exceed five years.
What does the new facility replace?
It replaces the Existing Credit Agreement dated January 22, 2020, which covered three- and five-year revolving facilities totaling $3.2 billion. The company incurred no early termination penalties.
How is the borrowing cost determined?
Interest and fees are based on Jabil's non-credit enhanced long-term senior unsecured debt rating from S&P Global Ratings, Moody's Ratings and Fitch Ratings. Current rates are 0.075% above the base rate or 1.075% above the benchmark rate.
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