Applied Industrial enters $900M senior unsecured revolving credit facility, replaces $1.03B facility

APPLIED INDUSTRIAL TECHNOLOGIES INC

New $900M revolving credit facility matures Dec 9, 2026, with accordion feature up to $500M.
Interest rate margins: base rate +0-55 bps or LIBOR +80-155 bps, based on net leverage ratio.
Covenants require interest coverage ≥3.0x and net leverage ≤3.75x (4.25x for acquisitions).
Facility used to refinance existing $1.03B credit agreement and for working capital, acquisitions.
Additionally amended Private Shelf Agreement with PGIM to align covenants with new facility.

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