Ralliant, Fortive subsidiary, enters $2.05B credit facility contingent on spin-off

Fortive Corp

$700M three-year and $600M eighteen-month senior unsecured delayed draw term loans, plus $750M revolver.
Borrowings conditioned on completion of Ralliant's separation from Fortive via stock distribution.
Interest on Term SOFR loans ranges from 87.5 to 162.5 bps plus SOFR adjustment; base rate loans from 0 to 62.5 bps over prime.
Ralliant must maintain consolidated net leverage ratio of 3.50x or less (may rise to 4.00x for acquisitions over $100M).
Proceeds partly fund cash distribution to Fortive for Precision Technologies asset transfer.

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