Newell Brands Inc. has extended the scheduled termination date of its receivables purchase agreement to October 1, 2027, and adjusted the facility limit on factored receivables outstanding to $75 million. The company disclosed these changes on October 2, 2026, in a Form 8-K filed with the U.S. Securities and Exchange Commission.
The agreement was renewed by Newell Brands and Jarden Receivables, LLC, a wholly owned bankruptcy-remote special purpose entity. Royal Bank of Canada serves as the administrative agent for the facility. The renewal includes a Second Amendment to the original Receivables Purchase Agreement, which was dated October 2, 2023.
The amendment modifies several key terms of the facility. In addition to extending the termination date and setting the facility limit at $75 million, the agreement increases the concentration limits for all obligor groups. This change increases the relative aggregate amount of outstanding balance available for each obligor group. The document also redefines the "Debt Rating" metric used in the agreement, shifting from a senior unsecured debt rating to the corporate rating assigned to Newell Brands by Standard & Poor's or Moody's.
The thresholds for the rating periods were raised under the new definition. A Level 1 rating period now requires a corporate rating higher than BBB- by Standard & Poor's or higher than Baa3 by Moody's. A Level 2 rating period requires a rating of BB+ or above by Standard & Poor's or Ba1 or above by Moody's. A Level 3 rating period is triggered at a rating of BB or below by Standard & Poor's or Ba2 or below by Moody's.
Newell Brands stated that the description of the Amended RPA in the filing is not complete and is qualified by the full text of the agreement. The Second Amendment to the Receivables Purchase Agreement is attached to the filing as Exhibit 10.1.
The filing was signed by Bradford R. Turner, Chief Legal and Administrative Officer and Corporate Secretary, on behalf of Newell Brands Inc.