---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-046483"
form_type: "8-K"
ticker: "SWK"
cik: "0000093556"
company_name: "STANLEY BLACK & DECKER, INC."
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T03:53:49.649855+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Stanley Black & Decker Amends Credit Agreements to Adjust EBITDA and Interest Coverage Covenants

## Summary
- Amended $1.5B 364-day, $500M 364-day, and 5-year credit agreements on Feb 23, 2023.
- EBITDA definition expanded to allow addbacks for restructuring, M&A, Russia closure, and other charges up to $500M per period.
- Interest coverage ratio requirement reduced from 3.50x to 1.50x for four fiscal quarters ending Q3 2023 through Q2 2024.
- Lenders received a one-time amendment fee of 3 basis points of their commitment.
- Amendments involve Citibank as agent and multiple lenders including Bank of America, JPMorgan, Wells Fargo.

## SEC filing metadata
- accession: 0001193125-23-046483
- form_type: 8-K
- ticker: SWK
- cik: 0000093556
- company_name: STANLEY BLACK & DECKER, INC.
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/93556/000119312523046483/0001193125-23-046483-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/93556/000119312523046483/d309522d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-046483
- JSON: https://secwatch.observer/filing/0001193125-23-046483.json
- Plain text: https://secwatch.observer/filing/0001193125-23-046483.txt

## Key facts
- Material Agreements
  STANLEY BLACK & DECKER, INC. amended Amendment No. 1 to $1,500,000,000 364-Day Credit Agreement with Citibank, N.A., as administrative agent for the lenders valued at Amends definition of EBITDA to permit certain adjustment addbacks up to $500 million per Adjustment (effective 2023-02-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent for the lenders
  - Value: Amends definition of EBITDA to permit certain adjustment addbacks up to $500 million per Adjustment
  - Effective: 2023-02-23
  source text: On February 23, 2023, the Company, the lenders identified on the signature pages thereto, and Citibank, N.A., as agent for the lenders, entered into (i) Amendment No. 1 to the $1,500,000,000 364-Day Credit Agreement, which amends the Syndicated 364-Day Credit Agreement (“ Amendment No. 1 to Syndicated 364-Day Credit Agreement ”), (ii) Amendment No. 1 to the $500,000,000 364-Day Credit Agreement, which amends the Club 364-Day Credit Agreement (“ Amendment No. 1 to Club 364-Day Credit Agreement ”), and (iii) Amendment No. 2 to the Amended and Restated Five Year Credit Agreement, which amends the 5-Year Credit Agreement (“ Amendment No. 2 to 5-Year Credit Agreement ” and, together with Amendment No. 1 to Syndicated 364-Day Credit Agreement and Amendment No. 1 to Club 364-Day Credit Agreement, the “ Amendments ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/93556/000119312523046483/0001193125-23-046483-index.htm
- Material Agreements
  STANLEY BLACK & DECKER, INC. amended Amendment No. 1 to $500,000,000 364-Day Credit Agreement with Citibank, N.A., as administrative agent for the lenders valued at Amends definition of EBITDA to permit certain adjustment addbacks up to $500 million per Adjustment (effective 2023-02-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent for the lenders
  - Value: Amends definition of EBITDA to permit certain adjustment addbacks up to $500 million per Adjustment
  - Effective: 2023-02-23
  source text: On February 23, 2023, the Company, the lenders identified on the signature pages thereto, and Citibank, N.A., as agent for the lenders, entered into (i) Amendment No. 1 to the $1,500,000,000 364-Day Credit Agreement, which amends the Syndicated 364-Day Credit Agreement (“ Amendment No. 1 to Syndicated 364-Day Credit Agreement ”), (ii) Amendment No. 1 to the $500,000,000 364-Day Credit Agreement, which amends the Club 364-Day Credit Agreement (“ Amendment No. 1 to Club 364-Day Credit Agreement ”), and (iii) Amendment No. 2 to the Amended and Restated Five Year Credit Agreement, which amends the 5-Year Credit Agreement (“ Amendment No. 2 to 5-Year Credit Agreement ” and, together with Amendment No. 1 to Syndicated 364-Day Credit Agreement and Amendment No. 1 to Club 364-Day Credit Agreement, the “ Amendments ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/93556/000119312523046483/0001193125-23-046483-index.htm
- Material Agreements
  STANLEY BLACK & DECKER, INC. amended Amendment No. 2 to Amended and Restated Five Year Credit Agreement with Citibank, N.A., as administrative agent for the lenders valued at Amends definition of EBITDA to permit certain adjustment addbacks up to $500 million per Adjustment (effective 2023-02-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Citibank, N.A., as administrative agent for the lenders
  - Value: Amends definition of EBITDA to permit certain adjustment addbacks up to $500 million per Adjustment
  - Effective: 2023-02-23
  source text: On February 23, 2023, the Company, the lenders identified on the signature pages thereto, and Citibank, N.A., as agent for the lenders, entered into (i) Amendment No. 1 to the $1,500,000,000 364-Day Credit Agreement, which amends the Syndicated 364-Day Credit Agreement (“ Amendment No. 1 to Syndicated 364-Day Credit Agreement ”), (ii) Amendment No. 1 to the $500,000,000 364-Day Credit Agreement, which amends the Club 364-Day Credit Agreement (“ Amendment No. 1 to Club 364-Day Credit Agreement ”), and (iii) Amendment No. 2 to the Amended and Restated Five Year Credit Agreement, which amends the 5-Year Credit Agreement (“ Amendment No. 2 to 5-Year Credit Agreement ” and, together with Amendment No. 1 to Syndicated 364-Day Credit Agreement and Amendment No. 1 to Club 364-Day Credit Agreement, the “ Amendments ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/93556/000119312523046483/0001193125-23-046483-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.