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Get filing alertsRivian funds $1.0B Volkswagen term loan secured by JV stake
Filed October 7, 2026 · Period ending October 7, 2026 · ~1 min read
Key Changes
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Rivian funded the full $1.0 billion committed term loan from Volkswagen Group on October 7, 2026.
Item 2.03 verify on EDGAR → -
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The loans are non-recourse to Rivian, secured by the 50% equity interest in the Joint Venture owned by Rivian SPV.
Item 2.03 verify on EDGAR → -
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Loan A carries a 5.93% fixed rate and Loan B a 6.03% fixed rate, with interest paid semi-annually.
Item 2.03 verify on EDGAR → -
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The loans mature on October 7, 2036, with $100 million annual principal repayments beginning in year three.
Item 2.03 verify on EDGAR → -
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Loan B proceeds were distributed to Rivian for general corporate purposes.
Item 2.03 verify on EDGAR →
Summary
Rivian has drawn down the full $1.0 billion term loan facility from Volkswagen Group, as disclosed in its October 7, 2026 8-K filing. The financing is structured as two loans: Loan A, secured by all assets of the Joint Venture, and Loan B, secured only by the equity interests in the Joint Venture owned by Rivian SPV. Both loans are non-recourse to Rivian, meaning the company has no liability beyond the collateral.
Loan A carries a 5.93% fixed interest rate, while Loan B carries a 6.03% rate, with semi-annual interest payments beginning after two years. The loans mature on October 7, 2036, with principal amortization of $100 million per year starting in year three. For retail investors, this filing confirms that Rivian has accessed the committed capital from Volkswagen, strengthening its liquidity position.
The non-recourse structure limits Rivian's downside risk, as the company is not obligated to repay the loans beyond the value of the JV equity stake. The proceeds from Loan B were distributed to Rivian for general corporate purposes, providing additional financial flexibility. The fixed interest rates are disclosed, and the repayment schedule is clearly defined, offering transparency on the company's future obligations.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 — Creation of a Direct Financial Obligation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On the Funding Date, the term loans under the Loan Agreements were funded in the full committed amount of $1.0 billion.
Rivian announced the funding of the committed $1.0 billion, 10-year term loan facility from Volkswagen Group. The facility is non-recourse to the Company and secured by the 50% equity interest in the Joint Venture owned by Rivian SPV.
Added in current filing · verify on EDGAR →
Each of the Loans will mature on October 7, 2036, the tenth anniversary of the Funding Date.
The loans mature on October 7, 2036. Beginning on the third anniversary, $100.0 million of principal under each Loan will be repaid each year in $50.0 million semi-annual installments, with the balance due at maturity.
Added in current filing · verify on EDGAR →
Neither of the Loans is guaranteed by the Company or any other person or entity. The Company is a party to the Loan B Agreement only for the purpose of certain limited agreements, representations and warranties contained therein. The sole recourse for any event of default under the Loan B Agreement is to the collateral, and the Company does not have any liability thereunder.
The loans are non-recourse to Rivian. Loan A is secured by all assets of the Joint Venture, while Loan B is secured only by the equity interests in the Joint Venture owned by Rivian SPV. Rivian has no liability under the Loan B Agreement beyond the collateral.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 7, 2026 · How we verify