Rivian will use the proceeds for general corporate purposes and is scheduled to begin paying down the principal in the third year of the term at $100 million annually. The remaining balance of the $1B facility is due on Oct. 7, 2036.
Tuesday, October 20, 2026
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Rivian Borrows $1 Billion from Volkswagen
Business13 days ago
The agreement establishes a 10 year credit facility that was fully funded on Oct. 7 at a fixed interest rate of 6.03%. This loan is non-recourse, meaning the lender cannot seek payment from the borrower's general assets and is limited to the collateral, which consists of Rivian's 50% stake in its joint venture with Volkswagen.
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