---
schema_version: "secwatch.filing_event.v1"
accession: "0000091440-23-000029"
form_type: "8-K"
ticker: "SNA"
cik: "0000091440"
company_name: "Snap-on Inc"
filed_at: "2023-09-13T23:59:59+00:00"
generated_at: "2026-06-10T19:48:10.177984+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Snap-on enters new $900M credit facility, replacing $800M prior facility

## Summary
- Five-year $900M multi-currency revolving credit facility, matures September 12, 2028.
- Accordion feature allows up to $450M increase in commitments with lender approval.
- Pricing based on SOFR plus 58-102.5 bps; facility fees 4.5-10 bps.
- Covenants include leverage ratio ≤0.60x or net debt/EBITDA ≤3.50x.
- No amounts outstanding at signing; replaces prior $800M facility due 2024.

## SEC filing metadata
- accession: 0000091440-23-000029
- form_type: 8-K
- ticker: SNA
- cik: 0000091440
- company_name: Snap-on Inc
- filed_at: 2023-09-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91440/000009144023000029/0000091440-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91440/000009144023000029/sna-20230912.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000091440-23-000029
- JSON: https://secwatch.observer/filing/0000091440-23-000029.json
- Plain text: https://secwatch.observer/filing/0000091440-23-000029.txt

## Key facts
- Debt Financings
  Snap-on Inc amended revolving credit of $900 million with JPMorgan Chase Bank, N.A., Citibank, N.A. and U.S. Bank National Association at Adjusted Term Secured Overnight Financing Rate (SOFR) plus a spread ranging from maturing September 12, 2028.
  - Instrument: revolving credit
  - Principal: $900 million
  - Counterparty: JPMorgan Chase Bank, N.A., Citibank, N.A. and U.S. Bank National Association
  - Rate: Adjusted Term Secured Overnight Financing Rate (SOFR) plus a spread ranging from
  - Maturity: September 12, 2028
  - Event: amendment
  source text: On September 12, 2023, Snap-on Incorporated (“Snap-on”) entered into a five-year, $900 million multi-currency revolving credit facility that terminates on September 12, 2028 (the “New Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91440/000009144023000029/0000091440-23-000029-index.htm
- Material Agreements
  Snap-on Inc entered into Fourth Amended and Restated Five Year Credit Agreement with each lender and agent listed on the signature pages thereof valued at $900 million multi-currency revolving credit facility (effective 2023-09-12).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: each lender and agent listed on the signature pages thereof
  - Value: $900 million multi-currency revolving credit facility
  - Effective: 2023-09-12
  source text: On September 12, 2023, Snap-on Incorporated (“Snap-on”) entered into a five-year, $900 million multi-currency revolving credit facility that terminates on September 12, 2028 (the “New Facility”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/91440/000009144023000029/0000091440-23-000029-index.htm

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