Signing and terminating at once — a credit facility swap disclosed under Items 1.01 and 1.02 together

1Disclosing the swap in one place

When a company reworks its credit facilities, signing the new agreement and terminating the old one happen on the same day. The 8-K items treat these separately: Item 1.01 for entry into a material definitive agreement, Item 1.02 for termination of one. Both appear in this filing, so the whole movement — ending a $5.5 billion facility and replacing it with $8.1 billion across two — can be read from a single document.

2What changed

Splitting one into two is the notable design. The five-year facility supplies long assurance; the 364-day facility supplies flexibility reviewed annually. For the banks, a short-tenor facility makes credit easier to reassess. Increasing the total while dividing it across tenors reads as reconciling both sides.

3Facilities and commercial paper

The text notes that the facilities are available to backstop the commercial paper program. Commercial paper raises short-term funds directly from the market, but a disrupted market can leave it unable to roll over. A bank facility standing ready allows a switch at that moment. The maximum rising to $8.1 billion corresponds to the larger backstop now in place.

4The rarity of Item 1.02

Of the 644 SEC filings this site holds as of 2026-09-02, 442 are 8-K family filings, and only 3 include Item 1.02, termination of a material definitive agreement. Termination becomes disclosable when it is itself material; ordinary expiry or replacement by a new agreement is not necessarily treated as an independent material event. Disclosed alongside the entry as here, the whole swap is shown at once.