PINTEREST, INC. (PINS) Form 8-K — Oct 15, 2026
Pinterest entered into an amended and restated five-year $700 million revolving credit facility with JPMorgan Chase Bank as administrative agent, replacing its prior $500 million facility from October 2022. The new facility carries SOFR plus a 1.25% margin, includes an accordion option to increase commitments by up to the greater of $1 billion or 75% of consolidated EBITDA, and allows up to $75 million in letters of credit. Covenants fall away if Pinterest achieves investment grade ratings from two agencies.
Key figures
- Debt Amount
- $700 million revolving credit facility
- Interest Rate
- SOFR + 1.25% margin (or base rate + 0.25%)
- Term
- five years
- Facility Size
- $700 million
- Commitment Fee
- 0.10% per annum on unused portion
- Accordion Option
- greater of $1,000 million and 75% of consolidated EBITDA
- Prior Facility Size
- $500.0 million
- Max Net Leverage Ratio
- 3.50 to 1.00 (up to 4.00 to 1.00 post-acquisition)
- Letter Of Credit Capacity
- $75 million
AI analysis
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