Otis Worldwide Corp (OTIS): debt financing — Otis enters new $1.5B revolving credit facility maturing 2030, replaces 2028 facility

Otis Worldwide Corp

New unsecured $1,500M revolving credit agreement matures August 8, 2030.
Replaces prior $1.5B facility that was set to expire March 10, 2028; no penalties incurred.
Borrowings bear interest at SOFR plus 1.125% (or base rate plus 0.125%), subject to credit rating adjustments.
Facility includes $500M accordion feature to increase commitments under same terms.
Contains customary covenants including maximum consolidated leverage ratio.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Otis Worldwide Corp amended revolving credit of $1,500 million with JPMorgan Chase Bank, N.A. at 1.125% for term SOFR rate, EURIBO rate and daily simple ESTR rate borrowings, an maturing August 8, 2030.

Instrument: revolving credit
Principal: $1,500 million
Counterparty: JPMorgan Chase Bank, N.A.
Rate: 1.125% for term SOFR rate, EURIBO rate and daily simple ESTR rate borrowings, an
Maturity: August 8, 2030
Event: amendment

Exact text from the filing

On August 8, 2025, Otis Worldwide Corporation (“ Otis ”), entered into a new credit agreement (the “ Credit Agreement ”) governing its unsecured $1,500 million revolving credit facility, which matures on August 8, 2030.

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Source: SEC EDGAR

accession 0001140361-25-029921

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