---
schema_version: "secwatch.filing_event.v1"
accession: "0000042888-23-000029"
form_type: "8-K"
ticker: "GGG"
cik: "0000042888"
company_name: "GRACO INC"
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:35:27.096027+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Graco amends credit agreement to replace LIBOR with SOFR benchmark

## Summary
- Amendment dated May 23, 2023 replaces LIBOR with SOFR for borrowings under existing $750M credit facility.
- All lenders, including U.S. Bank, JPMorgan, Wells Fargo, Bank of America, PNC, and others, consented.
- No default or event of default existed before or after the amendment; loan parties reaffirmed obligations.
- Notice contact change: Karen Gallivan removed; Joseph J. Humke remains as notice contact.

## SEC filing metadata
- accession: 0000042888-23-000029
- form_type: 8-K
- ticker: GGG
- cik: 0000042888
- company_name: GRACO INC
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/42888/000004288823000029/0000042888-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/42888/000004288823000029/ggg-20230523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000042888-23-000029
- JSON: https://secwatch.observer/filing/0000042888-23-000029.json
- Plain text: https://secwatch.observer/filing/0000042888-23-000029.txt

## Key facts
- Material Agreements
  GRACO INC amended Amendment No. 1 to Amended and Restated Credit Agreement with U.S. Bank National Association, as administrative agent and a lender, and the other lenders that are parties thereto (effective 2023-05-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: U.S. Bank National Association, as administrative agent and a lender, and the other lenders that are parties thereto
  - Effective: 2023-05-23
  source text: On May 23, 2023, Graco Inc. (the “Company”) entered into an Amendment No. 1 to Amended and Restated Credit Agreement (the “Amendment”) that amends its Amended and Restated Credit Agreement, dated as of March 25, 2021, entered into with U.S. Bank National Association, as administrative agent and a lender, and the other lenders that are parties thereto (the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/42888/000004288823000029/0000042888-23-000029-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.