3M Replaces $4.25 Billion Revolving Credit Facility

3M entered into a new unsecured $4.25 billion revolving credit agreement with JPMorgan Chase Bank as administrative agent and certain financial institutions as lenders, replacing and terminating its previous facility of the same size. Borrowings mature five years after the August 17, 2026 effective date, with interest and unused-commitment fees tied to 3M’s credit rating; the agreement permits potential increases to $5.25 billion and includes a minimum 3.0-to-1.0 EBITDA-to-interest ratio covenant.