Company: CLX
Filing Date: 2025-03-28
Form Type: 8-K
Source: 0001206774-25-000171
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Company: CLOROX CO /DE/
Filing Date: 2025-03-28
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement

On March 25, 2025, The Clorox Company (“the
Company”) entered into a $1,200,000,000 five-year unsecured revolving credit agreement (the “ Agreement”) among JPMorgan
Chase Bank, N. A., Citibank, N. A., and Wells Fargo Bank, National Association, as administrative agents, and lenders, and the other agents
and lenders party thereto (the “ Lenders”). JPMorgan Chase Bank, N. A., Citibank, N. A., and Wells Fargo Securities, LLC acted
as the joint lead arrangers and joint bookrunners under the Agreement. JPMorgan Chase Bank, N. A. is also acting as the servicing agent
under the Agreement. Amounts available under the Agreement are for general corporate purposes.

Concurrently with the effectiveness of the Agreement,
the Company terminated its existing $1,200,000,000 credit agreement, dated as of March 25, 2022, among the Company, as borrower, JPMorgan
Chase Bank, N. A., Citibank, N. A., and Wells Fargo Bank, National Association, as administrative agents and lenders, and the other agents
and lenders from time to time party thereto. No material termination fees or penalties were incurred by the Company in connection with
the termination of the existing credit agreement, which was due to mature on March 25, 2027.

Certain lenders party to the Agreement, directly
or through affiliates, have pre-existing relationships with the Company, including one or more of the following: participating in prior
credit facilities, share repurchase programs, bond offerings, or derivative transactions; acting as dealers in the Company’s commercial
paper programs or as foreign exchange traders; or providing commercial paper safekeeping, investment banking advisory, cash management,
or pension services.

The Agreement provides the terms under which the
Lenders will lend funds to the Company and contains customary representations and warranties and customary affirmative and negative covenants,
including (among others) restrictions on liens, consolidations, mergers, and asset sales. The only financial covenant in the Agreement
is a consolidated interest coverage ratio. The Agreement also provides for customary events of default, including (among others) nonpayment,
covenant defaults, breaches of representations or warranties, bankruptcy and insolvency events, cross defaults and a change of control.

The Company has the option to elect one