Franklin Electric enters new $350M credit facility, matures 2030 with increased accordion

FRANKLIN ELECTRIC CO INC

Fifth Amended and Restated Credit Agreement extended maturity to May 14, 2030; revolving commitment stays at $350 million.
Borrowers may request up to $175M increase (total $525M), up from $125M in prior accordion.
Covenants unchanged: max leverage ratio 3.50:1, min interest coverage 3.00:1.
Subsidiaries guarantee obligations; competitive bid option and multicurrency borrowing retained.
Previous facility (Fourth Amended, 2021) replaced; JPMorgan and BofA continue as arrangers.

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