TRIMBLE INC. (TRMB): debt financing — Trimble enters $1.0B term loan facility to finance acquisition of TP Holding and Sixfold

TRIMBLE INC.

Unsecured delayed draw term loan of $1.0B: $500M 3-year and $500M 5-year tranches.
Proceeds to fund acquisition of TP Group Holding GmbH and Sixfold GmbH per Dec 11, 2022 SPA.
Amendment to $1.25B revolver makes $600M available for acquisition and increases max leverage ratio.
Interest rates based on credit rating: Term SOFR + 1.125%-2.125% or base rate + 0.125%-1.125%.
Covenants include maximum leverage and minimum interest coverage ratio maintenance.

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

TRIMBLE INC. incurred term loan of $1.0 billion with Bank of America, N.A. maturing third anniversary of funding date for 3-Year Tranche loans; fifth anniversary of funding date for 5-Year Tranche loans.

Instrument: term loan
Principal: $1.0 billion
Counterparty: Bank of America, N.A.
Maturity: third anniversary of funding date for 3-Year Tranche loans; fifth anniversary of funding date for 5-Year Tranche loans
Event: incurrence

Exact text from the filing

The Term Loan Credit Agreement provides for an unsecured delayed draw term loan facility in the aggregate principal amount of $1.0 billion, comprised of a 3-year tranche in the amount of $500.0 million (the “3-Year Tranche”) and a 5-year tranche in the amount of $500.0 million (the “5-Year Tranche”).

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

TRIMBLE INC. entered into Term Loan Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders from time to time party thereto valued at $1.0 billion (effective 2022-12-27).

Action: entry
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, and the lenders from time to time party thereto
Value: $1.0 billion
Effective: 2022-12-27

Exact text from the filing

On December 27, 2022, Trimble Inc. (the “Company”) entered into a Term Loan Credit Agreement, by and among the Company, the lenders from time to time party thereto and Bank of America, N.A., as administrative agent (the “Term Loan Credit Agreement”).

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101 debt financings filed in the last 30 days. Browse all debt financings →

TRIMBLE INC. filing history →

Source: SEC EDGAR

accession 0000864749-22-000205

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