Darden Restaurants Inc: Enters $1,500,000,000 revolving credit agreement

What happened Darden Restaurants, Inc. announced that on Oct 22, 2026 it entered into a $1,500,000,000 Amended and Restated Revolving Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party thereto. The Credit Agreement amended and restated the company’s prior credit agreement, is a senior unsecured credit commitment, and matures on Oct 22, 2031.

Key details

• Total facility: $1,500,000,000; maturity: Oct 22, 2031.
• Sublimit of $150,000,000 for letters of credit.
• Includes customary representations, affirmative and negative covenants, a maximum consolidated net debt to total capitalization ratio of 3.50 to 1.00, and customary events of default.
• Permitted uses: working capital and capital expenditures, refinancing certain indebtedness, certain acquisitions and general corporate purposes; interest and fees are based on prevailing rates and, in part, on the company’s credit ratings.

Why it may matter The filing reports Item 1.01 (entry into a material definitive agreement), Item 1.02 (termination of a prior material definitive agreement by amendment and restatement) and Item 2.03 (creation of a direct financial obligation) related to the Credit Agreement described above. This filing does not show why the insider traded or why the company acted.