secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN ELECTRIC CO INC (FELE)
CIK:        0000038725
Form:       8-K
Filed at:   2025-05-20T23:59:59+00:00
Accession:  0000038725-25-000117
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38725/000003872525000117/0000038725-25-000117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38725/000003872525000117/fele-20250514.htm
  HTML page:      https://secwatch.observer/filing/0000038725-25-000117

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer