ITW enters $3.0B five-year credit facility, replaces prior facility due 2024

ILLINOIS TOOL WORKS INC

Entered $3.0B five-year credit facility with JPMorgan as agent, Citibank as syndication agent, effective Oct 21, 2022.
No amounts outstanding under new or replaced facility; prior facility (Sept 2019) terminated.
Unused commitment fee 0.045%-0.09% and applicable margin 0.625%-1.00%, both based on credit rating.
Company may request increase to $5.0B total at lenders' discretion.
Key covenant: Interest Coverage Ratio must not be less than 3.5x.

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