NEWELL BRANDS INC. 8-K

What Happened Newell Brands Inc. announced on July 30, 2026 that it entered into a five-year asset-based revolving credit facility (ABL Credit Facility) led by JPMorgan Chase Bank, N.A. The facility provides up to $800.0 million of commitments (subject to a borrowing base) and includes an uncommitted accordion option to request up to an additional $500.0 million. On the closing date the company drew $490.0 million under the new facility and used those proceeds to repay and replace its existing revolving credit agreement dated August 31, 2022.

Key Details

• Facility size: Up to $800.0 million initial commitments; accordion can increase commitments by up to $500.0 million (uncommitted).
• Initial draw / use: $490.0 million borrowed on July 30, 2026 to refinance prior revolver.
• Maturity: Five-year term maturing July 30, 2031 (with certain earlier maturity mechanics tied to other Material Indebtedness).
• Pricing & fees: Loans bear interest based on SOFR (or daily SOFR) or an alternate base rate plus a margin (SOFR margin ranges from 1.50%–2.00%; alternate base rate margin 0.50%–1.00%). Unused commitments carry a commitment fee of 0.25%–0.30%.
• Security & covenants: Obligations are guaranteed by certain subsidiaries and secured by first-priority liens on specified assets; customary affirmative and negative covenants apply, including a minimum Consolidated Fixed Charge Coverage Ratio of 1.00x during specified testing periods.

Why It Matters This transaction replaces Newell’s prior revolver with a secured, asset-based facility that provides immediate liquidity ($490M drawn at close) and up to $800M of borrowing capacity (expandable in certain circumstances). For investors, the deal stabilizes near-term financing, sets the company’s borrowing costs tied to market rates (SOFR), and imposes customary covenants that could restrict dividends, additional debt, asset sales and related-party transactions if availability weakens. The collateral and guarantees improve lender protections but also mean these assets are pledged to support the facility.