Kennametal enters $700M five-year unsecured credit agreement, matures June 2027

KENNAMETAL INC

Unsecured revolving facility replaces prior credit agreement dated 2018; maturity extended to June 14, 2027.
Includes sublimits: $50M letters of credit, $100M swingline, $300M multicurrency, $250M foreign borrower.
Financial covenant requires maximum Consolidated Leverage Ratio of 3.75:1, with temporary adjustments for qualified acquisitions.
Facility size may be increased by up to $300M with existing lender consent or adding new lenders.
Use of proceeds for general corporate purposes including working capital, capex, and acquisitions.

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