Fastenal renews $835M credit facility, reduces private placement capacity to $600M

FASTENAL CO

Revolving credit commitment increased to $835M with accordion option up to $500M; maturity extended to June 18, 2031.
Removed consolidated EBITDA covenant; added minimum interest coverage ratio of 3.00:1.00 and max total leverage ratio of 3.00:1.00 (step-up to 3.50 after $750M acquisition).
Master Note Agreement reduced from $900M to $600M; PGIM released as purchaser and investor group representative.
Deleted negative covenants on dispositions, investments, and restrictive agreements; increased thresholds for certain indebtedness and judgment cross-defaults.
Issuance period under Master Note Agreement extended to June 18, 2031.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.