Caterpillar Inc. filed a Form 8-K on September 1, 2026, disclosing that on August 27, 2026, the company entered into three unsecured revolving credit facilities totaling up to $11.5 billion in aggregate commitments, replacing and extending prior arrangements.

Key Highlights

  • New 364-Day Facility: Caterpillar entered into a new Credit Agreement (2026 364-Day Facility) providing up to $3.5 billion in unsecured revolving credit, expiring August 26, 2027.
  • Three-Year Facility extended: The Fifth Amended and Restated Credit Agreement (Three-Year Facility) provides up to $3.0 billion and extends the expiration date to August 27, 2029.
  • Five-Year Facility extended: The Fifth Amended and Restated Credit Agreement (Five-Year Facility) provides up to $5.0 billion and extends the expiration date to August 27, 2031.
  • No drawings as of filing date: According to the filing, "the Borrowers have not drawn on the Credit Facilities" as of the date of the report.
  • Net worth covenant: Caterpillar is required to maintain consolidated net worth of not less than $9 billion at all times under the Credit Facilities.
  • Local currency addendums: Separate addendums permit borrowing in Pounds Sterling, Euros, and Japanese Yen, each up to the equivalent of $100 million, as part of the 364-Day Aggregate Commitment.

Caterpillar's 2026 Credit Facility Renewal and Expansion Details

According to the filing, on August 27, 2026, Caterpillar Inc. (NYSE:CAT) and its subsidiaries -- including Caterpillar Financial Services Corporation, Caterpillar International Finance Designated Activity Company, Caterpillar International Finance Luxembourg S.a r.l., and Caterpillar Finance Kabushiki Kaisha (collectively, the "Borrowers") -- entered into three credit agreements with a syndicate of financial institutions. Citibank, N.A. serves as the Agent, Citibank Europe plc, UK Branch as the Local Currency Agent, and MUFG Bank, Ltd. as the Japan Local Currency Agent.

The filing disclosed that the 364-Day Facility replaces the Credit Agreement (2025 364-Day Facility) and related addendums entered into on August 28, 2025. Similarly, the Three-Year and Five-Year Facility Agreements amend and restate their respective prior versions, both of which were dated August 28, 2025. All three facilities are described as available "for general corporate purposes." The Credit Facilities contain representations and warranties, covenants, and events of default, including financial covenants. In addition to the consolidated net worth requirement for Caterpillar, Cat Financial is required to maintain an interest coverage ratio above 1.15 to 1 and a leverage ratio of consolidated debt to consolidated net worth not greater than 10.0 to 1.

The filing also noted that certain lenders and agents party to the Credit Facilities "have performed, and may in the future perform, for Caterpillar and its subsidiaries, various commercial banking, investment banking, underwriting and other financial advisory services, for which they have received and may in the future receive customary fees and expenses." The report was signed by Derek Owens, identified as Chief Legal Officer and General Counsel.

What Was Disclosed

Caterpillar's 8-K disclosed the creation of a new 364-Day revolving credit facility of up to $3.5 billion and the amendment and extension of existing Three-Year ($3.0 billion) and Five-Year ($5.0 billion) unsecured revolving credit facilities, all effective August 27, 2026.