secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN ELECTRIC CO INC (FELE)
CIK:        0000038725
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0000038725-24-000105
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38725/000003872524000105/0000038725-24-000105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38725/000003872524000105/fele-20240515.htm
  HTML page:      https://secwatch.observer/filing/0000038725-24-000105

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