trending Market Intelligence /marketintelligence/en/news-insights/trending/1qd18tIs_jKPT9QplPYRHQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Newell Brands secures $1.25B revolver, $1B term loan facility

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Newell Brands secures $1.25B revolver, $1B term loan facility

Newell Brands Inc. secured a total of $2.25 billion from a five-year $1.25 billion revolving credit agreement and a bridge loan agreement that provides for a $1 billion senior unsecured term loan facility.

The household goods company said it expects to use proceeds from any borrowings under the revolver for general corporate purposes, while the proceeds of the bridge loan agreement are expected to be used as necessary to finance a portion of the recently announced tender offers, including any related fees and expenses, according to a Form 8-K filed Dec. 18.

Newell Brands entered into the unsecured revolving credit facility Dec. 12 with a syndicate of banks led by JPMorgan Chase Bank NA as administrative agent. Under the agreement, Newell Brands may ask to increase the aggregate commitments to up to $1.75 billion, upon the satisfaction of certain conditions. The company may also ask to extend the revolver's maturity date, pending approval, by single year increments.

The revolver provides for the issuance of up to $100 million of letters of credit for the company's account, contingent on there being a sufficient amount available for borrowing under the facility.

Additionally, on Dec. 13, Newell Brands entered into a bridge loan agreement with Credit Suisse AG, Cayman Islands Branch, as lender and administrative agent. The unsecured term loan facility has a maturity date of June 14, 2019.

The bridge loan agreement is a short-term loan and requires the company to repay any outstanding indebtedness on the maturity date, the then unpaid principal amount of the loans outstanding under the loan agreement. It also provides for voluntary prepayment of loans without premium or penalty, subject to certain conditions and exceptions, the filing noted.