---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-207347"
form_type: "8-K"
ticker: "AIT"
cik: "0000109563"
company_name: "APPLIED INDUSTRIAL TECHNOLOGIES INC"
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T21:19:32.975492+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Applied Industrial extends receivables securitization facility maturity to Aug 2026

## Summary
- Maturity of receivables facility extended from March 2024 to August 4, 2026.
- Default ratio threshold set at 3.50%, delinquency ratio at 9.00%, dilution ratio at 6.00% (3-month average).
- Days' Sales Outstanding covenant increased to 65 calendar days.
- Debt threshold for cross-acceleration raised to $50M per event.
- Performance Guaranty reaffirmed by Applied Industrial.

## SEC filing metadata
- accession: 0001193125-23-207347
- form_type: 8-K
- ticker: AIT
- cik: 0000109563
- company_name: APPLIED INDUSTRIAL TECHNOLOGIES INC
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/109563/000119312523207347/0001193125-23-207347-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/109563/000119312523207347/d525286d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-207347
- JSON: https://secwatch.observer/filing/0001193125-23-207347.json
- Plain text: https://secwatch.observer/filing/0001193125-23-207347.txt

## Key facts
- Debt Financings
  APPLIED INDUSTRIAL TECHNOLOGIES INC amended guarantee of No change to principal amount disclosed. with PNC Bank, National Association, PNC Capital Markets LLC, and certain additional lenders at Not specified. maturing Extended to August 4, 2026 (from March 26, 2024)..
  - Instrument: guarantee
  - Principal: No change to principal amount disclosed.
  - Counterparty: PNC Bank, National Association, PNC Capital Markets LLC, and certain additional lenders
  - Rate: Not specified.
  - Maturity: Extended to August 4, 2026 (from March 26, 2024).
  - Event: amendment
  source text: On August 4, 2023, Applied Industrial Technologies, Inc. (the “Company”) amended its accounts receivable securitization facility (the “Receivables Facility”), extending its maturity to August 4, 2026. The Receivables Facility had been set to expire on March 26, 2024. The amendment of the Receivables Facility included (a) an Amendment No. 3 to Receivables Financing Agreement and Reaffirmation of Performance Guaranty by and among the Company, as servicer, AIT Receivables LLC (“AIT Receivables”), a wholly-owned special purpose subsidiary of the Company, as borrower, PNC Bank, National Association, as administrative agent, PNC Capital Markets LLC, as structuring agent, and certain additional persons from time to time party thereto, as lenders, and (b) an Amendment No. 3 to Purchase and Sale Agreement by and among AIT Receivables, the Company and certain of its wholly-owned subsidiaries, as originators (together, the “Receivables Facility Amendments”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/109563/000119312523207347/0001193125-23-207347-index.htm
- Material Agreements
  APPLIED INDUSTRIAL TECHNOLOGIES INC amended Receivables Facility with PNC Bank, National Association valued at accounts receivable securitization facility extended to August 4, 2026 (effective 2023-08-04).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: accounts receivable securitization facility extended to August 4, 2026
  - Effective: 2023-08-04
  source text: On August 4, 2023, Applied Industrial Technologies, Inc. (the “Company”) amended its accounts receivable securitization facility (the “Receivables Facility”), extending its maturity to August 4, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/109563/000119312523207347/0001193125-23-207347-index.htm

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