← MARRIOTT INTERNATIONAL INC /MD/

Credit agreement

Signed Sep 23, 2026

Committed
$5bn
Matures
n/a
TrancheSizeMaturesMargin
Revolving credit facility$5bnn/a79–128 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level Level 1A-/A3 or higher79 bpsn/a
Level Level 2BBB+/Baa189 bpsn/a
Level Level 3BBB/Baa2102 bpsn/a
Level Level 4BBB-/Baa3108 bpsn/a
Level Level 5Lower than Level 4 (or unrated)128 bpsn/a
Level Level 1A-/A3 or highern/a8 bps
Level Level 2BBB+/Baa1n/a9 bps
Level Level 3BBB/Baa2n/a11 bps
Level Level 4BBB-/Baa3n/a15 bps
Level Level 5Lower than Level 4 (or unrated)n/a20 bps

Lenders: BOFA SECURITIES, INC., JPMORGAN CHASE BANK, N.A., DEUTSCHE BANK SECURITIES INC., WELLS FARGO SECURITIES, LLC, THE BANK OF NOVA SCOTIA, CITIBANK, N.A., U.S. BANK NATIONAL ASSOCIATION, FIFTH THIRD BANK, NATIONAL ASSOCIATION, TRUIST SECURITIES, INC., HSBC BANK USA, NATIONAL ASSOCIATION, PNC BANK, NATIONAL ASSOCIATION, THE TORONTO-DOMINION BANK, NEW YORK BRANCH

Tested quarterlyHeadroom not yet measured4.50x
Maintain, as at the last day of each fiscal quarter of the Company, a Leverage Ratio of not greater than 4.50 to 1.00; provided that the Company may, by written notice from a senior officer of the Company to the Administrative Agent indicating that the Company expects to consummate a Material Acquisition, temporarily increase this limitation to 5.50 to 1.00 for any fiscal quarter ending during the four fiscal quarter period beginning with the fiscal quarter in which such Material Acquisition is consummated, and, thereafter, the Company may, at its sole election by written notice from a senior officer of the Company to the Administrative Agent, terminate the application of any such increase for any fiscal quarter ending prior to the end of such four fiscal quarter period; provided further that in no event may the maximum Leverage Ratio be increased as described above for more than four consecutive fiscal quarters in any five consecutive fiscal quarter period.
Read the filing on sec.gov ↗

Download CSV · Download JSON

Amendments

No amendments on file yet.

Report an error