Biscuit maker Mondelez International Inc. on Feb. 28 agreed to a 364-day senior unsecured revolving credit facility for a principal amount of $1.5 billion, the company said in a filing with the SEC.
Mondelez said it will use the money for general corporate purposes and to support its commercial paper program.
The credit agreement will expire Feb. 27, 2019, but the food manufacturer may extend the maturity of any loans outstanding on that deadline until Feb. 26, 2020.
Under the deal, Mondelez must maintain minimum shareholders' equity of $24.6 billion.
The lenders of the credit facility include JPMorgan Chase Bank NA, Bank of America NA, Citibank NA, HSBC Bank (USA) NA and Goldman Sachs Bank USA.
