LEGGETT & PLATT INC (LEG): debt financing — Leggett & Platt amends $1.2B credit agreement to replace LIBOR with SOFR

LEGGETT & PLATT INC

Amendment dated Dec 16, 2022 replaces LIBOR benchmarks with SOFR and adds 0% interest rate floor.
No borrowings outstanding; facility continues to support $1.2B commercial paper program.
Sanctioned country definition updated to include Donetsk and Luhansk People's Republics.
Total revolving commitments unchanged at $1.2B; maturity remains Sept 30, 2026.

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

LEGGETT & PLATT INC amended credit facility of $1,200,000,000 with JPMorgan Chase Bank, N.A. (as administrative agent) and the Lenders with Revolving Commitments at Replaced LIBOR with SOFR; added 0% floor on SOFR; ABR Spread 0.250%, Fixed Sprea maturing September 30, 2026.

Instrument: credit facility
Principal: $1,200,000,000
Counterparty: JPMorgan Chase Bank, N.A. (as administrative agent) and the Lenders with Revolving Commitments
Rate: Replaced LIBOR with SOFR; added 0% floor on SOFR; ABR Spread 0.250%, Fixed Sprea
Maturity: September 30, 2026
Event: amendment

Exact text from the filing

General Terms of the Credit Agreement The Credit Agreement is a multi-currency credit facility providing us the ability, from time to time, to borrow, repay and re-borrow up to $1.2 billion (subject to covenant limitations) until September 30, 2026, the maturity date, at which time our ability to borrow under the Credit Agreement will terminate. The Revolving

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Source: SEC EDGAR

accession 0001193125-22-309152

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