Nike has a new credit agreement that allows for up to about $1 billion in borrowings pursuant to a revolving credit facility, with the option to increase borrowings to $1.5 billion upon request by the company. The revolving credit facility matures in October 2016, with potential extensions available that could push the date to Nov. 1, 2018, at the latest. This new facility replaces the one Nike had previously, a $1 billion agreement it signed on Dec. 1, 2006. It would have expired in December 2012.