Graco amends credit agreement: revolver increased to $750M, accordion to $375M

GRACO INC

Revolver commitment raised from $500M to $750M; multicurrency sublimit from $200M to $375M.
Accordion feature expanded from $250M to $375M for future increases in commitments or term loans.
Applicable margin on base-rate loans raised to 0.125%-0.875% (previously 0.000%-0.750%).
Significant acquisition before Dec 31, 2023 triggers further margin and facility-fee increases.
Amendment effective June 8, 2023; lenders include U.S. Bank, JPMorgan, Wells Fargo, BofA, PNC, ING, Northern Trust.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GRACO INC amended Amendment No. 2 to Amended and Restated Credit Agreement with U.S. Bank National Association, as administrative agent and a lender, and the other lenders (effective 2023-06-08).

Action: amendment
Agreement: credit facility
Counterparty: U.S. Bank National Association, as administrative agent and a lender, and the other lenders
Effective: 2023-06-08

Exact text from the filing

On June 8, 2023, Graco Inc. (the “Company”) entered into an Amendment No. 2 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 (as previously amended, restated, supplemented, or otherwise modified, the “Credit Agreement”).

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Source: SEC EDGAR

accession 0000042888-23-000033

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