Parker-Hannifin enters $2B credit agreement to fund Meggitt plc acquisition

Parker-Hannifin Corp

$2.0 billion senior unsecured delayed-draw term loan facility entered on August 27, 2021.
Proceeds will finance part of the cash consideration for the proposed acquisition of Meggitt plc.
No borrowings were drawn under the facility as of the filing date.
Commitments terminate upon acquisition closing, deal termination, or February 2, 2023.
Interest rates based on credit ratings; ticking fee on undrawn amounts begins October 26, 2021.

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