3M CO — Form 10-Q
Filed October 20, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
3M Company entered into a new Five Year Credit Agreement dated August 17, 2026, for a $5.25 billion revolving credit facility with JPMorgan Chase Bank (agent), Citibank, and Bank of America as arrangers. The facility replaces the prior May 2023 credit agreement and matures August 17, 2031, with extension options for up to two additional years. Terms include pricing based on ratings (Category 1–5), commitment fees of 5–11 bps annually, and financial covenants including a 3.0x minimum EBITDA-to-Interest ratio.
Why this rating
Routine refinancing of existing credit facility. No change in capacity ($5.25B same as prior), standard covenant structure. Administrative event.
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