PERRIGO Co plc 8-K

What Happened
Perrigo Co plc announced on March 20, 2026 that it entered into an Amended and Restated Credit Agreement that amends and restates its existing credit facility (originally dated April 20, 2022). The new agreement establishes a $1.0 billion revolving credit facility maturing March 20, 2031 and continues a $972.4 million Term Loan B maturing April 20, 2029. Perrigo drew on the new revolving facility to fully prepay its Term A Loans, including accrued interest and fees, and to pay related transaction costs. JPMorgan Chase Bank, N.A. and J.P. Morgan SE act as administrative agents for the facility.

Key Details

• Effective date: March 20, 2026; agreement amends and restates the prior credit agreement (Apr 20, 2022).
• Revolving Facility: $1.0 billion, maturity March 20, 2031 (subject to a provision that can shorten the maturity to 91 days before certain other debt maturities in specific circumstances).
• Term Loan B: $972.4 million, maturity April 20, 2029; outstanding balance and maturity unchanged.
• Security & guarantees: Facilities are incurred by Perrigo Investments, guaranteed by Perrigo and certain wholly-owned subsidiaries, and secured by a perfected security interest in substantially all tangible and intangible assets of the loan parties (subject to customary exceptions).
• Covenants & defaults: Includes customary affirmative/negative covenants and financial tests (a maximum secured net leverage ratio and a minimum cash interest coverage ratio) and customary events of default that could accelerate repayment.

Why It Matters
This filing represents a material financing action: Perrigo has extended and restructured its bank financing, increased revolver availability to $1.0B, and used that liquidity to repay prior Term A debt. For investors, key takeaways are that Perrigo now has an extended revolving facility that supports near-term liquidity and refinancing flexibility, but the company is subject to secured covenants and collateral requirements that could affect operations if financial tests are breached. The agreement preserves the Term Loan B schedule and creates secured obligations that rank against company assets.