MA · 10-Q · 2026Q2 · Full report

Liquidity and Debt Position

Mastercard Inc · 2026-07-30 · Importance 84 · Surprise 74 · In source text

Cash, cash equivalents, and investments increased to $11.6 billion at June 30, 2026 from $10.9 billion at December 31, 2025, while $7.3 billion remained available under the revolving credit facility. Total debt increased to $24.6 billion from $19.0 billion, including $2.5 billion payable within 12 months. Mastercard issued $5.0 billion of notes in June 2026 and received $4.978 billion of net proceeds after discounts and offering expenses. Commercial paper outstanding was $710 million at a weighted-average interest rate of 3.84%, while the company had no borrowings under its $8 billion revolving credit facility.

Key facts

• Net proceeds from the issuance of the 2026 USD Notes were $4.978 billion after deducting original issue discount, underwriting discount and offering expenses source
• At June 30, 2026 cash, cash equivalents and investments: $11.6 billion, compared with $10.9 billion at December 31, 2025 source
• The Credit Facility was amended and extended in 2025 and now expires in November 2030 source
• As of June 30, 2026, restricted cash and restricted cash equivalents and restricted security deposits held for customers totaled $2.7 billion (excluded from investments amount) source
• Available under the revolving credit facility at June 30, 2026: $7.3 billion, versus $8.0 billion at December 31, 2025 source
• Commercial Paper Program authorized up to $8 billion; at June 30, 2026 had $710 million of commercial paper outstanding with a weighted-average interest rate of 3.84% source
• At June 30, 2026 had $0 borrowings under the Credit Facility; at June 30, 2026 had $710 million commercial paper outstanding which reduces amounts available under the $8 billion Credit Facility source
• Net cash used in investing activities for six months ended June 30, 2026: $(879) million, versus $(567) million in 2025 (increase in use of $312 million) source

Impact estimates