Rivian Automotive: funds $1,000,000,000 joint venture loan

What happened Rivian Automotive, Inc. announced on Oct 7, 2026 the funding of the committed $1,000,000,000, 10-year term loan facility from Volkswagen Group entered into in connection with the parties’ existing joint venture agreement. The facility is non-recourse to the Company and is secured by the 50% equity interest in the joint venture owned by Rivian JV SPC, LLC (“Rivian SPV”), a wholly-owned subsidiary of the Company. Proceeds from the loan to Rivian SPV were distributed to the Company for general corporate purposes, per the filing.

Key details

• Funding date: Oct 7, 2026; maturity: Oct 7, 2036 (10-year term).
• Each loan: committed $1,000,000,000; Loan A interest rate 5.93% per annum, Loan B interest rate 6.03% per annum; interest paid semi-annually, first interest payment due on the second anniversary of the Funding Date.
• Amortization: beginning on the third anniversary of the Funding Date, $100,000,000 of principal under each loan will be repaid each year in two $50,000,000 installments, with the balance due at maturity.
• Security and recourse: Loan A is secured by all assets of the joint venture; Loan B is secured only by the equity interests in the joint venture owned by Rivian SPV. Neither loan is guaranteed by the Company; the Company’s recourse under Loan B is limited to the collateral.

Why it may matter This Item 2.03 reports the creation of a direct financial obligation (the funded term loans) and describes their material terms, security and limited recourse. This filing does not show why the insider traded or why the company acted.