Newell Brands (Nasdaq: NWL) secures $800M ABL facility and refinances debt

Rhea-AI Filing Summary

Newell Brands Inc. entered into a new five-year asset-based revolving credit facility of up to $800.0 million with a bank syndicate led by JPMorgan Chase Bank, N.A. The borrowing base includes qualified cash, accounts receivable, inventory, equipment and certain intellectual property, and the agreement features an uncommitted accordion of up to $500.0 million.

On the July 30, 2026 closing date, the company borrowed $490.0 million under the new facility and used the same amount to refinance and replace its existing revolving credit agreement. The facility matures on the earlier of July 30, 2031 or a springing maturity tied to other Material Indebtedness of at least $125.0 million.

U.S. dollar borrowings bear interest at term or daily SOFR or an alternate base rate plus a margin that varies with Availability, ranging from 1.50%–2.00% for SOFR loans and 0.50%–1.00% for alternate base rate loans. An unused commitment fee of 0.25%–0.30% applies. The facility is secured by a first-priority lien on specified assets and includes financial and operational covenants, including a minimum Consolidated Fixed Charge Coverage Ratio of 1.00 to 1.00 during defined Financial Covenant Compliance Periods.

Filing Explained

Usable capacity depends on collateral and borrowings, while the 1.00 fixed-charge test activates only during specified low-availability or default periods.

As a Form 8-K, the filing reports that Newell Brands completed the July 30 replacement of its existing revolving facility with a secured ABL facility; its additional mechanics show that the $800 million commitment is conditional usable capacity, not an always-available amount.

Availability is the lesser of the commitments then in effect and the borrowing base, minus outstanding revolving extensions of credit, so collateral values and existing borrowings can constrain access.

The minimum 1.00-to-1.00 consolidated fixed-charge coverage test applies quarterly only during a Financial Covenant Compliance Period, which begins when specified availability falls below the greater of 10% of the line cap or $60 million, or while an event of default continues.

The relevant future milestone is whether a later filing reports entry into or exit from that low-availability testing period, including the required 20 consecutive days above the threshold for exit.

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

ABL Credit Facility Size: $800.0 million Accordion Feature: $500.0 million Initial Borrowings: $490.0 million +5 more

8 metrics

ABL Credit Facility Size $800.0 million Total commitments under the new asset-based revolving credit facility

Accordion Feature $500.0 million Maximum aggregate increase in commitments available under uncommitted accordion

Initial Borrowings $490.0 million Amount borrowed on closing date and used to refinance existing credit agreement

Facility Maturity July 30, 2031 Stated maturity date, subject to earlier springing maturity tied to Material Indebtedness

Material Indebtedness Threshold $125.0 million Principal amount triggering potential springing maturity calculation

SOFR Margin Range 1.50%–2.00% Applicable margin over SOFR based on Availability under the facility

Alternate Base Rate Margin Range 0.50%–1.00% Applicable margin over alternate base rate based on Availability

Unused Commitment Fee 0.25%–0.30% Fee on unused portion of the ABL facility based on Average Quarterly Availability

Key Terms

asset-based revolving credit facility, Borrowing Base, accordion feature, Consolidated Fixed Charge Coverage Ratio, +2 more

6 terms

asset-based revolving credit facility financial

"entered into a five-year asset-based revolving credit facility (the “ABL Credit Facility”)"

A loan arrangement where a lender agrees to make funds available up to a set limit that a borrower can draw, repay, and draw again, with the amount available tied to the value of specific assets (like inventory, receivables, or equipment) pledged as collateral. It matters to investors because it provides flexible working capital while limiting risk exposure: the company can fund growth or cover shortfalls quickly, but borrowing capacity can shrink if asset values fall.

Borrowing Base financial

"subject to a borrowing base comprised of, without limitation, qualified cash, accounts receivable, inventory"

A borrowing base is the amount a lender will allow a company to borrow based on the value of assets the company offers as security, typically things like accounts receivable and inventory. It matters to investors because it sets a practical ceiling on short-term financing and influences a company’s liquidity and risk: if the borrowing base falls, the company may lose access to cash or be forced to sell assets, which can affect operations and share value.

accordion feature financial

"includes an uncommitted accordion feature whereby the Company can request certain lenders to increase commitments"

An accordion feature is a clause in a loan or financing agreement that allows a company to expand the size of a credit line or the amount of securities available under the same contract without drafting a completely new deal. Like a suitcase that can be extended to hold more items, it gives a company quick flexibility to raise extra money, which can help fund growth but may increase debt or dilute existing shareholders—so investors watch it for changes in risk and ownership.

Consolidated Fixed Charge Coverage Ratio financial

"requires compliance with a minimum Consolidated Fixed Charge Coverage Ratio during certain compliance testing periods"

Financial Covenant Compliance Period financial

"A Financial Covenant Compliance Period is defined as any period (a) beginning on any date on which Specified Availability"

Specified Availability financial

"beginning on any date on which Specified Availability is less than the greater of (x) 10% of the Line Cap and (y) $60 million"

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Available on EDGAR 07/31/2026 - 04:10 PM Accepted by SEC EDGAR 07/31/2026 - 04:10 PM Learn about SEC filing dates

FAQ

What size is Newell Brands (NWL) new ABL credit facility?

Newell Brands entered into an asset-based revolving credit facility of up to $800.0 million. The agreement also includes an uncommitted accordion feature allowing requested increases in commitments of up to an additional $500.0 million, subject to lender participation and other conditions.

How did Newell Brands (NWL) use the initial borrowings under the new facility?

On the closing date, Newell Brands borrowed $490.0 million under the new ABL facility. It used the full $490.0 million to repay borrowings and refinance, refund and replace its prior revolving credit agreement dated August 31, 2022.

When does Newell Brands (NWL) new ABL credit facility mature?

The ABL credit facility matures on the earlier of July 30, 2031 or a springing maturity date. The springing date occurs 91 days before the earliest scheduled maturity of other Material Indebtedness of at least $125.0 million, if such indebtedness remains outstanding.

What interest rates apply to Newell Brands (NWL) ABL borrowings?

U.S. dollar borrowings bear interest at term or daily SOFR plus 1.50%–2.00% or an alternate base rate plus 0.50%–1.00%, depending on Availability. The unused portion of the facility carries a commitment fee between 0.25% and 0.30% based on Average Quarterly Availability.

What key financial covenant applies under Newell Brands (NWL) ABL facility?

During a Financial Covenant Compliance Period, Newell Brands must maintain a minimum Consolidated Fixed Charge Coverage Ratio of 1.00 to 1.00. Such a period begins when Specified Availability falls below the greater of 10% of the Line Cap or $60 million, or after an event of default.

What secures Newell Brands (NWL) obligations under the new ABL credit agreement?

Obligations under the ABL credit agreement are guaranteed by certain subsidiaries and secured by a first-priority lien on specified assets. These include certain assets of Newell Brands and designated domestic and foreign subsidiaries, subject to permitted liens and other exceptions in the agreement.

false 0000814453 0000814453 2026-07-30 2026-07-30

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): July 30, 2026

NEWELL BRANDS INC.

(Exact name of registrant as specified in its charter)

Delaware		1-9608		36-3514169
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification Number)

5 Concourse Parkway NE, 8^th Floor

Atlanta, GA 30328

(Address of principal executive offices including zip code)

(770) 418-7000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

TITLE OF EACH CLASS		TRADING SYMBOL		NAME OF EACH EXCHANGE ON WHICH REGISTERED
Common stock, $1 par value per share		NWL		Nasdaq Stock Market LLC

Securities registered pursuant to Section 12(g) of the Act: None

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)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 July 30, 2026 (the “Closing Date”), Newell Brands Inc. (the “Company”), Newell Brands Ireland Services DAC (the “Subsidiary Borrower”), and certain of its subsidiaries, as subsidiary guarantors, entered into a five-year asset-based revolving credit facility (the “ABL Credit Facility”) with a syndicate of banks (the “Lenders”) led by JPMorgan Chase Bank, N.A., as administrative agent, pursuant to an ABL credit agreement governing the ABL Credit Facility (the “ABL Credit Agreement”). The ABL Credit Agreement provides for the ABL Credit Facility in the amount of up to $800.0 million, subject to a borrowing base comprised of, without limitation, qualified cash, accounts receivable, inventory, equipment and certain intellectual property. The ABL Credit Agreement also includes an uncommitted accordion feature whereby the Company can request certain lenders to increase commitments under the ABL Credit Facility by an aggregate amount not to exceed $500.0 million, subject to certain conditions. Borrowings under the ABL Credit Agreement may be used for working capital needs and other general corporate purposes, including, on the Closing Date, the refinancing, refunding and replacement of the Company’s existing revolving facility outstanding under that certain credit agreement, dated as of August 31, 2022 (as amended, supplemented or otherwise modified from time to time, the “Existing Credit Agreement”) among the Company, certain of the Company’s subsidiaries, as subsidiary borrowers, certain of its subsidiaries, as subsidiary guarantors, JPMorgan Chase Bank, N.A., as administrative agent, and the other agents and lenders party thereto. On the Closing Date, the Company incurred $490.0 million of borrowings and used $490.0 million of such borrowings under the ABL Credit Agreement to repay borrowings under and refinance, refund and replace the Existing Credit Agreement. Capitalized terms used herein shall have the meanings in the ABL Credit Agreement.

The ABL Credit Agreement provides for Availability in an amount equal to (a) the lesser of (i) the Total Commitments then in effect (which was $800.0 million on the Closing Date) and (ii) the Borrowing Base (the “Line Cap”) minus (b) the aggregate amount of the Revolving Extensions of Credit of the Lenders then outstanding.

The ABL Credit Facility matures on the earlier of (a) July 30, 2031, as such date may be extended in accordance with the ABL Credit Agreement, and (b) solely to the extent that any indebtedness in an aggregate principal amount of $125.0 million or more (“Material Indebtedness”) is outstanding as of the 91st day prior to the then earliest scheduled maturity date of such Material Indebtedness and each day thereafter until and including the scheduled maturity date of such Material Indebtedness, the date that is 91 days prior to the then-stated maturity date of such Material Indebtedness.

Borrowings under the ABL Credit Facility denominated in U.S. Dollars bear interest based on term secured overnight financing rate (“SOFR”) or daily SOFR or the “alternate base rate,” in each case, plus an applicable margin. The applicable margin is determined by reference to a pricing grid set forth in the ABL Credit Agreement based on the Company’s Availability under the ABL Credit Facility, ranging from a maximum of 2.00% in the case of SOFR-based loans and 1.00% in the case of alternate base rate loans to a minimum of 1.50% in the case of SOFR-based loans and 0.50% in the case of alternate base rate loans. In addition, the unused portion of the ABL Credit Facility is subject to a commitment fee, also determined by reference to the pricing grid, and ranging from a maximum of 0.30% to a minimum of 0.25%, based upon the Company’s Average Quarterly Availability. The Company may also borrow under certain alternative currencies, which bear interest based on (a) Euro interbank offered rate in the case of borrowings denominated in Euros, (b) term CORRA in the case of borrowings denominated in Canadian dollars or (c) Sterling Overnight Index Average in the case of borrowings denominated in Pounds sterling, in each case, plus the applicable margin applicable to SOFR-based loans.

Subject to certain exceptions and materiality qualifiers, the ABL Credit Facility includes certain customary affirmative and negative covenants, which, among other things, requires compliance with a minimum Consolidated Fixed Charge Coverage Ratio during certain compliance testing periods (as described below) and restricts the ability of the Company and its subsidiaries to incur debt, grant liens, dissolve or merge with another entity, sell assets, pay dividends and other payments in respect of capital stock, invest, prepay certain debt, enter into transactions with affiliates, conduct sale leasebacks, and materially change their respective businesses. The ABL Credit Facility also contains customary events of default, including for the nonpayment of principal or interest when due, material inaccuracy of a representation or warranty when made and violation of a covenant.

The Consolidated Fixed Charge Coverage Ratio must be not less than 1.00 to 1.00, tested as of the end of each fiscal quarter occurring during a Financial Covenant Compliance Period. A Financial Covenant Compliance Period is defined as any period (a) beginning on any date on which Specified Availability is less than the greater of (x) 10% of the Line Cap and (y) $60 million and ending on the subsequent date on which Specified Availability is greater than or equal to the greater of (x) 10% of the Line Cap and (y) $60 million for at least 20 consecutive days or (b) following the occurrence and during the continuance of an event of default.

The obligations under the ABL Credit Agreement are guaranteed by certain subsidiaries and secured by a first-priority lien on certain assets of the Company and certain of its domestic and foreign subsidiaries, subject to permitted liens and other exceptions set forth in the ABL Credit Agreement and related collateral documents.

The foregoing summary of the ABL Credit Facility and the ABL Credit Agreement is qualified in its entirety by reference to the ABL Credit Agreement, a copy of which is filed as Exhibit 10.1 hereto, and is incorporated herein by reference. Summaries of the material terms of the Existing Credit Agreement and amendments thereto are included in the Company’s Current Reports on Form 8-K filed on September 6, 2022, March 31, 2023 and February 9, 2024 (including the amendment to such Current Report filed on February 12, 2024), which summaries are incorporated herein by reference.

Some of the potential lenders under the ABL Credit Facility (and their respective subsidiaries or affiliates) have in the past provided, and may in the future provide, investment banking, underwriting, lending, commercial banking, trust and other advisory services to the Company and its subsidiaries and affiliates. These parties have received, and may in the future receive, customary compensation from the Company and its subsidiaries and affiliates for such services.

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		ABL Credit Agreement, dated as of July 30, 2026, among Newell Brands Inc., the Irish Borrower party thereto, the Subsidiary Guarantors from time to time party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.*
104		Cover Page Interactive Data File (formatted as inline XBRL and embedded within the document)

* Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company will furnish supplementally a copy of any omitted exhibits or schedules to the Securities and Exchange Commission upon request.

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.

						NEWELL BRANDS INC.
Dated: July 31, 2026				By:		/s/ Bradford R. Turner
						Bradford R. Turner
						Chief Legal and Administrative Officer and Corporate Secretary

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 1.1 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 18.3 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.4 KB