BRADY CORP (BRC): debt financing — Brady Corp enters $1.0B credit agreement to finance Honeywell PSS acquisition

BRADY CORP

$1.0B credit agreement: $500M term loan and $500M revolving credit facility, maturing June 12, 2031.
Replaces prior credit agreement; outstanding €13M revolver exchanged, other obligations repaid.
Revolving facility capped at $300M pre-closing, expands to $500M post-closing of PSS acquisition.
Covenants: max consolidated net leverage ratio 3.50:1 (temporarily 4.00:1 post-acquisition), min interest coverage 3.00:1.
Proceeds to finance PSS acquisition, transaction costs, capex, working capital.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BRADY CORP incurred credit facility of $1.0 billion, consisting of a $500 million term loan facility and a $500 million revolving credit facility with BMO Bank N.A., as administrative agent, swing line lender and letter of credit issuer, and Bank of America, N.A., as syndication agent and letter of credit issuer at base interest rate ... or a term benchmark or risk-free interest rate ... plus a maturing June 12, 2031.

Instrument: credit facility
Principal: $1.0 billion, consisting of a $500 million term loan facility and a $500 million revolving credit facility
Counterparty: BMO Bank N.A., as administrative agent, swing line lender and letter of credit issuer, and Bank of America, N.A., as syndication agent and letter of credit issuer
Rate: base interest rate ... or a term benchmark or risk-free interest rate ... plus a
Maturity: June 12, 2031
Event: incurrence

Exact text from the filing

Markets LLC, and Wells Fargo Bank, National Association acted as joint lead arrangers and joint bookrunners. The Credit Agreement provides for an aggregate principal amount of $1.0 billion, consisting of a $500 million term loan facility and a $500 million revolving credit facility. The Credit Agreement replaced and terminated the Company’s previous credit

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

BRADY CORP terminated previous credit agreement (effective 2026-06-12).

Action: termination
Agreement: credit facility
Effective: 2026-06-12

Exact text from the filing

The Credit Agreement replaced and terminated the Company’s previous credit agreement, which had been entered into on August 1, 2019.

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

BRADY CORP entered into Credit Agreement with BMO Bank N.A., as administrative agent, swing line lender and letter of credit issuer, and Bank of America, N.A., as syndication agent and letter of credit issuer valued at $1.0 billion (effective 2026-06-12).

Action: entry
Agreement: credit facility
Counterparty: BMO Bank N.A., as administrative agent, swing line lender and letter of credit issuer, and Bank of America, N.A., as syndication agent and letter of credit issuer
Value: $1.0 billion
Effective: 2026-06-12

Exact text from the filing

On June 12, 2026, in connection with its pending acquisition of Honeywell International Inc.’s Productivity Solutions and Services business (“PSS”), Brady Corporation (the “Company”) and certain of its subsidiaries entered into a Credit Agreement (the “Credit Agreement”) with a group of lenders party thereto, BMO Bank N.A., as administrative agent, swing line lender and letter of credit issuer, and Bank of America, N.A., as syndication agent and letter of credit issuer.

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Source: SEC EDGAR

accession 0000746598-26-000030

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