FRANKLIN ELECTRIC CO INC (FELE): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FRANKLIN ELECTRIC CO INC amended revolving credit of $350 million with JPMorgan Chase Bank, N.A., as administrative agent at prevailing annual interest rates subject to an applicable margin based on the le maturing May 14, 2030.

Instrument: revolving credit
Principal: $350 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: prevailing annual interest rates subject to an applicable margin based on the le
Maturity: May 14, 2030
Event: amendment

Exact text from the filing

Agreement, as amended (which is referred to in this current report as the “Previous Credit Agreement”) to May 14, 2030 while keeping the revolving commitment amount unchanged at $350 million. The Fifth Amended and Restated Credit Agreement provides that the Borrowers may request an increase in the aggregate revolving commitments by up to $175.0 million (not to exceed

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Source: SEC EDGAR

accession 0000038725-25-000117

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