PINTEREST, INC. — Form 10-Q
Filed October 29, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
Pinterest executed a Second Amendment and Restatement Agreement on October 15, 2026, amending its $700 million Revolving Credit and Guaranty Agreement originally dated November 15, 2018. The facility maintains the same $700M commitment size with eight lenders (JPMorgan Chase, Bank of America, Citibank, Goldman Sachs, RBC, Truist, U.S. Bank). Maturity date set for October 15, 2031 (subject to earlier date linked to Convertible Notes refinancing). The agreement includes standard covenants, a financial leverage covenant (Section 6.8), and customary provisions. Key terms: $75M Letter of Credit sublimit, $15M Swing Line sublimit, Term SOFR-based pricing at 1.25% plus applicable spread for borrowings.
Why this rating
Routine credit agreement amendment/restatement. No material change in facility size, pricing, or covenant structure disclosed. Administrative refinancing typical for mature public company. Immaterial relative to $18.7B market cap.
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