BREAKING: Fortive ($FTV) signs a 5-year, $2.0B revolving credit agreement with Bank of America — facility…
Filed with the SEC on · Summarized by InvestorsBot
BREAKING: Fortive ($FTV) signs a 5-year, $2.0B revolving credit agreement with Bank of America — facility maturity extended to Mar 17, 2031 and includes multicurrency borrowing + up to $1.0B increase option. 🚨💼📄 #FTV #CreditFacility #BreakingNews #CorporateFinance
CONFIRMED: Big liquidity & optional dry powder — extends borrowing runway and allows growth flexibility. Covenant: Consolidated Net Leverage ≤3.75x (temporary bump to 4.25x for 4 quarters after any >$250M acquisition). Testing starts Q1 2026. 📈⚖️ $FTV #Liquidity #Leverage #MarketAlert
ALERT: Key economics — US Term SOFR loans at Term SOFR +69–110 bps (rating‑based); facility fee 6–15 bps. Facility is unsecured, prepayable w/o penalty. Fortive did NOT borrow at closing. 🧾💸 $FTV #Rates #Debt #Finance
Note: Bank of America is administrative agent; lenders’ syndicate, up to two 1‑yr extension options (lender consent), customary covenants/events of default (incl. change of control), and subsidiary guarantees if co‑borrowers. 🏦🔁 #BankOfAmerica #FTV #Covenants #CreditFacility