Franklin Electric expands shelf facilities by $150M to $500M total; extends maturities to 20 years

FRANKLIN ELECTRIC CO INC

NYL facility increased to $250M (from $200M); Pru facility to $250M (from $150M). Total shelf capacity now $500M.
Max note maturity extended to 20 years; average life extended to 15 years (previously 15 and 12, respectively).
Issuance fee standardized at 0.025% of principal (was 0.10% for NYL, 0% for Pru).
Shelf issuance period extended to May 15, 2027.
Subsidiary guarantors consented to and ratified the amendments; all other terms unchanged.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FRANKLIN ELECTRIC CO INC amended First Amendment to the Amended and Restated Note Purchase and Private Shelf Agreement with NYL Investors LLC valued at $250,000,000 from $200,000,000 (effective 2024-05-15).

Action: amendment
Agreement: credit facility
Counterparty: NYL Investors LLC
Value: $250,000,000 from $200,000,000
Effective: 2024-05-15

Exact text from the filing

On May 15, 2024, Franklin Electric Co., Inc. ("Franklin Electric") entered into the First Amendment to the Amended and Restated Note Purchase and Private Shelf Agreement among Franklin Electric, Franklin Electric B.V., a Netherlands private company with limited liability (“Dutch Subsidiary Issuer”, and together with Franklin Electric, collectively, the “Companies” and each a "Company"), NYL Investors LLC (“NYL Investors”), and each of the undersigned holders of the Notes that are signatories hereto (the "Amendment to the NYL Shelf Agreement").

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FRANKLIN ELECTRIC CO INC amended First Amendment to the Fourth Amended and Restated Note Purchase and Private Shelf Agreement with PGIM, Inc. valued at $250,000,000 from $150,000,000 (effective 2024-05-15).

Action: amendment
Agreement: credit facility
Counterparty: PGIM, Inc.
Value: $250,000,000 from $150,000,000
Effective: 2024-05-15

Exact text from the filing

On May 15, 2024, Franklin Electric entered into the First Amendment to the Fourth Amended and Restated Note Purchase and Private Shelf Agreement among Franklin Electric, Dutch Subsidiary Issuer, PGIM, Inc. (“Prudential”), and the other holders of Notes that are signatories hereto (the "Amendment to the Pru Shelf Agreement ").

View on SEC.gov

290 material agreements filed in the last 30 days. Browse all material agreements →

FRANKLIN ELECTRIC CO INC filing history →

Source: SEC EDGAR

accession 0000038725-24-000105

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.