According to the latest filing with the U.S. Securities and Exchange Commission (SEC), Nike Inc has secured a 364-day credit facility.

This credit facility will provide the sportswear giant with an unsecured revolving loan facility of up to $1 billion. This short-term financing arrangement is unsecured, enhancing Nike's flexibility in working capital management. The revolving credit mechanism allows the company to borrow and repay within the credit limit as needed, providing important support for corporate cash flow management.