Caterpillar enters into up to $3.15 billion 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, Sept. 8 – Caterpillar Inc. entered into a 364-day revolving facility for up to $3.15 billion with Citibank, NA as the agent on Thursday, according to an 8-K filing with the Securities and Exchange Commission.

The facility, with joint lead arrangers and joint bookrunners Citibank, BofA Securities, Inc. and JPMorgan Chase Bank, NA, expires on Sept. 2, 2021.

The interest rate ranges from 62.5 basis points to 100 bps over Libor, based on debt ratings.

The commitment fee ranges from 3 bps to 10 bps.

The credit facility is available for general corporate purposes, and it was undrawn as of Tuesday.

Under the facility, Caterpillar is required to maintain consolidated net worth not less than $9 billion at all times.

Caterpillar is a construction machinery and equipment company based in Deerfield, Ill.

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