NRUCFC Amends Revolving Credit Agreement
Ticker: NRUC · Form: 8-K · Filed: Dec 6, 2024 · CIK: 70502
Sentiment: neutral
Topics: credit-agreement, amendment, financing
TL;DR
NRUCFC just amended its credit line, check the details.
AI Summary
On December 5, 2024, National Rural Utilities Cooperative Finance Corp. entered into amendments to its revolving credit agreement. These amendments are considered material definitive agreements and were filed as part of an 8-K report.
Why It Matters
Amendments to credit agreements can impact a company's borrowing capacity and financial flexibility, potentially affecting its ability to fund operations and growth.
Risk Assessment
Risk Level: low — The filing reports amendments to a credit agreement, which is a routine financial disclosure and does not inherently indicate significant new risks.
Key Players & Entities
- NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP /DC/ (company) — Registrant
- December 5, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made to the revolving credit agreement?
The filing indicates amendments were made to the revolving credit agreement, but the specific details of these changes are not provided in this summary section of the 8-K.
What is the purpose of these amendments?
The purpose of the amendments is not explicitly stated in the provided text, but amendments to credit agreements typically aim to adjust terms, covenants, or borrowing limits.
When did these amendments become effective?
The amendments were reported as of December 5, 2024, indicating the earliest event reported date.
Is this a new credit agreement or an amendment to an existing one?
This filing specifically refers to 'REVOLVING CREDIT AGREEMENT AMENDMENTS', indicating it is an amendment to an existing agreement.
What is the filing date of this 8-K report?
The filing date of this 8-K report is December 6, 2024.
Filing Stats: 631 words · 3 min read · ~2 pages · Grade level 13.6 · Accepted 2024-12-06 16:10:35
Key Financial Figures
- $250 million — , 2028 and (ii) increase commitments by $250 million (excluding the $150 million commitment
- $150 million — mitments by $250 million (excluding the $150 million commitment termination described below)
- $1,595 million — facility and the four-year facility are $1,595 million and $1,705 million, respectively, with
- $1,705 m — ur-year facility are $1,595 million and $1,705 million, respectively, with the total com
- $3,300 million — t amount under the two facilities being $3,300 million of which $3,298 million is available du
- $3,298 million — acilities being $3,300 million of which $3,298 million is available due to letter of credit is
Filing Documents
- nru-20241205.htm (8-K) — 29KB
- 0000070502-24-000070.txt ( ) — 193KB
- nru-20241205.xsd (EX-101.SCH) — 3KB
- nru-20241205_def.xml (EX-101.DEF) — 8KB
- nru-20241205_lab.xml (EX-101.LAB) — 29KB
- nru-20241205_pre.xml (EX-101.PRE) — 19KB
- nru-20241205_htm.xml (XML) — 4KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On December 5, 2024, National Rural Utilities Cooperative Finance Corporation (the "Company") amended its three-year and four-year revolving credit agreements to, among other things (i) extend the maturity date of the three-year revolving credit agreement to November 28, 2027 and the maturity date of the four-year revolving credit agreement to November 28, 2028 and (ii) increase commitments by $250 million (excluding the $150 million commitment termination described below) under each of the three-year and four-year revolving credit agreements. Commitments of $150 million that were scheduled to mature on November 28, 2025 were terminated under the three-year revolving credit agreement and commitments of $150 million will continue to expire at the prior maturity date of November 28, 2026 under the four-year revolving credit agreement. As of the date hereof, the total commitment amounts under the three-year facility and the four-year facility are $1,595 million and $1,705 million, respectively, with the total commitment amount under the two facilities being $3,300 million of which $3,298 million is available due to letter of credit issuances. The foregoing summary is qualified in its entirety by reference to the full text of the amendments to the revolving credit agreements, which will be filed as exhibits to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended November 30, 2024.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) The following exhibit is filed as part of this report: Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION By: /s/ YU LING WANG Yu Ling Wang Senior Vice President and Chief Financial Officer Dated: December 6, 2024