NKE · 10-K · 2026A · Full report

Outstanding Indebtedness and Facilities

NIKE, Inc. · 2026-07-15 · Importance 38 · Surprise 24

NIKE filed a shelf registration on July 17, 2025 (the "Shelf") permitting issuance of an unlimited amount of debt securities, which expires on July 17, 2028. On March 6, 2026, the company entered into a 364-day committed credit facility providing up to $1.0 billion of borrowings (option to increase to $1.5 billion) maturing March 5, 2027; this facility replaced a prior 364-day facility. On March 7, 2025, NIKE entered into a five-year committed credit facility providing up to $2.0 billion of borrowings (option to increase up to $3.0 billion) maturing March 7, 2030, with extension options. NIKE also maintains a $3.0 billion commercial paper program (no borrowings outstanding as of May 31, 2026) and states it has not experienced difficulty accessing capital markets to date. The company holds long-term debt ratings of A+ (S&P) and A2 (Moody's) and notes facility fees and interest rates may change with rating movements; as of May 31, 2026, NIKE was in full compliance with facility covenants.

Key facts

• On March 7, 2025, NIKE entered into a five-year committed credit facility providing for up to $2 billion of borrowings with an option to increase to $3 billion with lender approval; the facility matures on March 7, 2030 with options to extend the maturity date up to an additional two years. source
• On March 6, 2026, NIKE entered into a 364-day committed credit facility providing for up to $1 billion of borrowings with an option to increase to $1.5 billion with lender approval; the facility matures on March 5, 2027 with an option to extend the maturity date an additional 364 days. source
• On July 17, 2025, NIKE filed a shelf registration statement permitting issuance of an unlimited amount of debt securities; the Shelf expires on July 17, 2028. source
• NIKE's long-term debt ratings are A+ from S&P Global Ratings and A2 from Moody's Ratings. source
• As of May 31, 2026, NIKE was in full compliance with each covenant under its committed credit facilities and believes it is unlikely it will fail to meet any of these covenants in the foreseeable future. source
• The March 6, 2026 facility replaced the prior $1 billion 364-day credit facility entered into on March 7, 2025 which matured on March 6, 2026. source