Summary
NIKE, Inc. has announced the commencement of a medium-term note program with the potential to issue up to $500,000,000 in notes. This initiative, established on May 29, 2002, allows NIKE to access capital markets for funding purposes. The program is governed by a previously effective registration statement and supplemented by a prospectus. The company has also entered into a Distribution Agreement with a syndicate of prominent financial institutions, including Merrill Lynch, Banc of America Securities, and Salomon Smith Barney, to act as agents in the solicitation and purchase of these notes.
Key Highlights
- 1NIKE, Inc. launched a medium-term note program to raise capital.
- 2The program has a maximum issuance capacity of $500,000,000.
- 3The notes are being issued under a registration statement declared effective on January 24, 2002.
- 4A Distribution Agreement has been established with a group of major financial institutions to facilitate note sales.
- 5These financial institutions will act as agents for soliciting offers to purchase the notes.
- 6The program utilizes an existing Indenture dated December 13, 1996.
- 7Specific terms for Fixed Rate and Floating Rate Medium-Term Notes are detailed in an Officers' Certificate dated May 29, 2002.