01—Abstract
Summary
Summary of the 8-K filed February 18, 2026. Cited figures are marked; the original filing is the authoritative source.
Mondelēz International, Inc. (MDLZ) has filed an 8-K report detailing the execution of a new 364-day senior unsecured revolving credit agreement, effective February 18, 2026.
This new facility, with an aggregate principal amount of $1.5 billiona, replaces a similar agreement that expired on February 19, 2025. The credit facility has a termination date of February 17, 2027, but allows for the extension of outstanding loans to February 17, 2028, under specific conditions. The company also has the option to increase the facility by up to an additional $500 million with lender agreement.
This refinancing demonstrates Mondelez's proactive approach to managing its liquidity and financing needs. The agreement is intended for general corporate purposes, including working capital and supporting its commercial paper program.
The terms include a minimum shareholders' equity requirement of $25.0 billionb, with certain adjustments for accounting impacts. This facility provides significant financial flexibility, ensuring the company has access to substantial capital for its ongoing operations and strategic initiatives.
02—Key points
Key Highlights
- Mondelez entered into a new $1.5 billion 364-day senior unsecured revolving credit agreement on February 18, 2026.
- The new agreement replaces a previous 364-day revolving credit agreement that was terminated.
- The facility matures on February 17, 2027, with an option to extend outstanding loans for an additional year.
- Mondelez can request an increase in the facility by up to $500 million, subject to lender approval.
- The credit agreement requires the maintenance of a minimum shareholders' equity of $25.0 billion.
- Funds from the credit facility will be used for general corporate purposes, including working capital and supporting the commercial paper program.
- Borrowings will bear interest at a variable rate based on SOFR or base rate, plus an applicable margin tied to the company's debt rating.
03—Questions
Frequently Asked Questions
What is the purpose of the new 364-day revolving credit agreement?
The new 364-day revolving credit agreement is intended for general corporate purposes, including supporting working capital needs and the company's commercial paper program. It provides Mondelez with significant financial flexibility and access to capital for its ongoing operations.
What is the total amount of the new credit facility, and what are its key dates?
The new credit facility has an aggregate principal amount of $1.5 billion. It became effective on February 18, 2026, and terminates on February 17, 2027. Outstanding loans can be extended to February 17, 2028, under certain conditions.
Are there any financial covenants associated with this new credit agreement?
Yes, a key financial covenant requires Mondelez to maintain a minimum shareholders' equity of not less than $25.0 billion. Certain accounting adjustments, such as accumulated other comprehensive income/loss and mark-to-market impacts on pension plans, are excluded from this calculation.
Can Mondelez increase the amount of this credit facility?
Yes, Mondelez has the right to request an increase in the aggregate principal amount of the 364-day revolving facility by up to $500 million, provided that the lenders agree to provide the increased commitments.
04—Continue