Accenture (NYSE: ACN) replaces $5.5B revolver with $8.1B in new credit
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Accenture plc entered into two new senior unsecured revolving credit facilities totaling $8.1 billion. A new Five-Year Credit Agreement provides a $5.925 billion revolving facility, and a new 364-Day Credit Agreement provides a $2.175 billion revolving facility. These Credit Agreements replace Accenture’s prior $5.5 billion senior unsecured revolving credit facility, which was terminated on April 22, 2026.
Borrowings are available in U.S. dollars and certain other currencies. U.S. dollar borrowings bear interest at SOFR or a base rate, plus a margin tied to Accenture’s credit ratings. The facilities may be used for general corporate purposes, including to backstop Accenture’s commercial paper program, whose maximum issuance capacity is increased to $8.1 billion. The agreements include customary covenants such as a minimum interest coverage ratio and standard events of default.
Positive
- None.
Negative
- None.
Insights
Accenture refinances and upsizes its core bank liquidity facilities.
Accenture has replaced a prior $5.5 billion revolving facility with two new senior unsecured revolving credit agreements totaling $8.1 billion. The structure combines a $5.925 billion five-year facility with a $2.175 billion 364-day facility, both with Bank of America as administrative agent.
Interest on U.S. dollar borrowings is based on SOFR or a base rate plus a margin that varies with Accenture’s credit ratings, which helps align pricing with perceived credit quality. The facilities are intended for general corporate purposes and to backstop an expanded commercial paper program of up to $8.1 billion, giving Accenture flexible short-term funding capacity.
The agreements include customary covenants, including a minimum interest coverage ratio and standard events of default, which are typical for investment-grade corporate revolvers. Overall, this appears to be a routine refinancing and upsizing of committed bank liquidity, without specific indications in the excerpt of immediate funding needs or stress.
8-K Event Classification
4 items: 1.01, 1.02, 2.03, 9.01
4 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 1.02
Termination of a Material Definitive Agreement
Business
A significant contract was terminated, which may affect business operations or revenue.
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Financial
The company incurred a new significant debt or off-balance-sheet obligation.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Five-Year Credit Facility: $5.925 billion
364-Day Credit Facility: $2.175 billion
Total New Revolving Capacity: $8.1 billion
+2 more
5 metrics
Five-Year Credit Facility
$5.925 billion
Senior unsecured revolving credit facility term of five years
364-Day Credit Facility
$2.175 billion
Senior unsecured revolving credit facility with 364-day term
Total New Revolving Capacity
$8.1 billion
Aggregate capacity of new Credit Agreements and CP backstop
Prior Revolving Facility
$5.5 billion
Senior unsecured revolving credit facility terminated April 22, 2026
Commercial Paper Program Limit
$8.1 billion
Maximum amount of commercial paper that may be issued
Key Terms
senior unsecured revolving credit facility, secured overnight financing rate (SOFR), commercial paper program, interest coverage ratio, +1 more
5 terms
senior unsecured revolving credit facility financial
"provides for a $5.925 billion senior unsecured revolving credit facility"
A senior unsecured revolving credit facility is a bank loan line that a company can draw, repay and redraw up to an agreed limit, similar to a company credit card. It is “senior” because lenders are paid before other creditors if the company fails, and “unsecured” because it isn’t backed by specific assets; investors watch it for signals about a company’s short-term cash flexibility, borrowing cost and financial risk.
secured overnight financing rate (SOFR) financial
"U.S. dollar borrowings will bear interest at a rate based on the secured overnight financing rate (SOFR)"
A secured overnight financing rate (SOFR) is the interest rate on very short, one‑day loans that are backed by high‑quality collateral (like government bonds), so lenders face less risk. Investors care because SOFR is a widely used benchmark that sets the cost of borrowing and the pricing of loans, bonds and derivatives; think of it as a trusted yardstick for short‑term interest costs that influences returns and valuations across markets.
commercial paper program financial
"including to backstop issuances under Accenture’s commercial paper program"
A commercial paper program is a formal way a company issues very short-term IOUs to raise quick cash, typically for days to months, without using a bank loan. Investors care because it shows how the company manages short-term funding and how trustworthy it appears—like watching whether someone keeps using and repaying a credit card; frequent use or higher costs can signal cash strain, while smooth issuance suggests healthy liquidity.
interest coverage ratio financial
"including a requirement to maintain a minimum interest coverage ratio"
A measure of how easily a company can pay the interest on its debt, calculated by comparing the earnings it generates from operations to the interest it owes. It matters to investors because a higher ratio means the company can comfortably meet interest payments — like having several paychecks set aside to cover your rent — while a low ratio signals greater risk of missed payments or financial strain.
events of default financial
"and customary events of default"
Events of default are specific breaches or failures listed in a loan, bond, or credit agreement that give lenders the right to act, such as demanding immediate repayment, raising interest rates, or taking secured assets. They matter to investors because triggering one is like setting off a financial alarm: it raises the chance of foreclosure, restructuring, or bankruptcy and can sharply reduce the value of a company’s stock or bonds and increase borrowing costs.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 22, 2026
(Exact name of Registrant as specified in its charter)
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(Address of principal executive offices)
Registrant’s telephone number, including area code: (353 ) (1 ) 646-2000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
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| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement
On April 22, 2026, Accenture plc (“Accenture”), as guarantor, and certain of Accenture’s subsidiaries, as borrowers (the “Borrowers”), entered into (i) a credit agreement (the “Five-Year Credit Agreement”) with Bank of America, N.A., as administrative agent (the “Agent”), and the lenders named therein (the “Lenders”), which provides for a $5.925 billion senior unsecured revolving credit facility with a term of five years from the date of the Five-Year Credit Agreement and (ii) a 364-day credit agreement (the “364-Day Credit Agreement” and, together with the Five-Year Credit Agreement, the “Credit Agreements”) with the Agent and the Lenders named therein, which provides for a $2.175 billion senior unsecured revolving credit facility with a term of 364-days from the date of the 364-Day Credit Agreement. The Credit Agreements replace Accenture’s prior $5.5 billion senior unsecured revolving credit facility, which was terminated on April 22, 2026.
Borrowings under each Credit Agreement are available in U.S. dollars and other currencies as specified therein. U.S. dollar borrowings will bear interest at a rate based on the secured overnight financing rate (SOFR) or a base rate, at the Borrowers’ election. Borrowings in other currencies will bear interest at a rate based on the interest benchmark for such currency specified in each Credit Agreement. In each case the interest rate will include an applicable margin determined based on Accenture’s credit ratings from time to time. Each Credit Agreement also requires the Borrowers to pay certain customary fees.
The credit facilities provided under the Credit Agreements are available to be used for general corporate purposes, including to backstop issuances under Accenture’s commercial paper program. In connection with the execution of the Credit Agreements, the maximum amount of commercial paper that may be issued under Accenture’s commercial paper program will be correspondingly increased to $8.1 billion.
Each Credit Agreement contains customary representations and warranties and affirmative and negative covenants, including a requirement to maintain a minimum interest coverage ratio, and customary events of default.
The Agent and the Lenders and their respective affiliates have in the past performed, and may in the future perform, investment banking, financial advisory, lending, commercial banking, and/or other services for Accenture and its subsidiaries and to persons and entities with relationships with Accenture and its subsidiaries, for which they have received, and may in the future receive, customary fees and expenses.
The description of the Credit Agreements contained herein is qualified in its entirety by reference to the Five-Year Credit Agreement and the 364-Year Credit Agreement, copies of which are filed herewith as Exhibit 10.1 and Exhibit 10.2, respectively, and are incorporated herein by reference.
Item 1.02 Termination of a Material Definitive Agreement
The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |||||||
| 10.1 | Five-Year Credit Agreement, dated as of April 22, 2026, among Accenture plc, the borrowers party thereto, the lenders party thereto, and Bank of America, N.A., as administrative agent. | |||||||
| 10.2 | 364-Day Credit Agreement, dated as of April 22, 2026, among Accenture plc, the borrowers party thereto, the lenders party thereto, and Bank of America, N.A., as administrative agent. | |||||||
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL | |||||||
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Date: April 24, 2026 | ACCENTURE PLC | |||||||
| By: | /s/ Joel Unruch | |||||||
| Name: | Joel Unruch | |||||||
| Title: | General Counsel & Corporate Secretary | |||||||
FAQ
What new credit facilities did Accenture (ACN) enter into on April 22, 2026?
Accenture entered into two new senior unsecured revolving credit facilities: a Five-Year Credit Agreement for $5.925 billion and a 364-Day Credit Agreement for $2.175 billion, providing a combined committed capacity of $8.1 billion for corporate liquidity needs.
How do Accenture’s new credit agreements compare to its prior revolving facility?
The new credit agreements replace Accenture’s prior $5.5 billion senior unsecured revolving credit facility. Together, the Five-Year and 364-Day facilities provide $8.1 billion in aggregate capacity, representing a substantial increase in committed bank credit relative to the terminated facility.
What are the key terms of interest on Accenture’s new revolving credit facilities?
U.S. dollar borrowings under the new facilities bear interest at a rate based on SOFR or a base rate, at Accenture’s election, plus an applicable margin. That margin is determined from time to time based on Accenture’s credit ratings, aligning borrowing costs with its assessed credit quality.
How will Accenture (ACN) use the new credit facilities and commercial paper capacity?
The credit facilities may be used for general corporate purposes, including to backstop issuances under Accenture’s commercial paper program. In connection with these agreements, the maximum commercial paper that may be issued is increased to $8.1 billion, matching the total revolving capacity.
What covenants and protections are included in Accenture’s new credit agreements?
Each credit agreement includes customary representations, warranties, and covenants, notably a requirement to maintain a minimum interest coverage ratio. They also contain standard affirmative and negative covenants and typical events of default, providing lenders with standard contractual protections common in investment-grade corporate facilities.