---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-293491"
form_type: "8-K"
ticker: "FTV"
cik: "0001659166"
company_name: "Fortive Corp"
filed_at: "2023-12-12T23:59:59+00:00"
generated_at: "2026-06-07T14:15:40.296747+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Fortive enters $1.3B delayed-draw term loan facility due Dec 2024

## Summary
- $1.3B unsecured delayed-draw term loan; no borrowings on closing Dec 7, 2023.
- Draws allowed in up to three advances on or before Mar 31, 2024; repayment due Dec 12, 2024.
- Proceeds to refinance existing $1.3B term loan due Dec 14, 2023, fund acquisitions, working capital.
- Interest: Term SOFR +75-125bps or Base Rate +0-25bps; ticking fee of 6.5-15bps on undrawn commitments after Feb 5, 2024.
- Covenant: max consolidated net leverage ratio of 3.50:1 (4.00:1 for four quarters after acquisitions >$250M).

## SEC filing metadata
- accession: 0001193125-23-293491
- form_type: 8-K
- ticker: FTV
- cik: 0001659166
- company_name: Fortive Corp
- filed_at: 2023-12-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1659166/000119312523293491/0001193125-23-293491-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1659166/000119312523293491/d636269d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-293491
- JSON: https://secwatch.observer/filing/0001193125-23-293491.json
- Plain text: https://secwatch.observer/filing/0001193125-23-293491.txt

## Key facts
- Debt Financings
  Fortive Corp incurred term loan of aggregate principal amount of $1.3 billion with Sumitomo Mitsui Banking Corporation at Term SOFR plus a margin of between 75 and 125 basis points maturing no later than December 12, 2024.
  - Instrument: term loan
  - Principal: aggregate principal amount of $1.3 billion
  - Counterparty: Sumitomo Mitsui Banking Corporation
  - Rate: Term SOFR plus a margin of between 75 and 125 basis points
  - Maturity: no later than December 12, 2024
  - Event: incurrence
  source text: entered into a term loan credit agreement with Sumitomo Mitsui Banking Corporation, as administrative agent, and a syndicate of lenders from time to time party thereto, which provides for a delayed-draw term loan facility in an aggregate principal amount of $1.3 billion
  evidence_url: https://www.sec.gov/Archives/edgar/data/1659166/000119312523293491/0001193125-23-293491-index.htm
- Material Agreements
  Fortive Corp entered into Term Loan Credit Agreement with Sumitomo Mitsui Banking Corporation valued at delayed-draw term loan facility in aggregate principal amount of $1.3 billion (effective 2023-12-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Sumitomo Mitsui Banking Corporation
  - Value: delayed-draw term loan facility in aggregate principal amount of $1.3 billion
  - Effective: 2023-12-07
  source text: On December 7, 2023 (the “ Closing Date ”), Fortive Corporation, a Delaware corporation (the “ Company ”), entered into a term loan credit agreement with Sumitomo Mitsui Banking Corporation, as administrative agent, and a syndicate of lenders from time to time party thereto, which provides for a delayed-draw term loan facility in an aggregate principal amount of $1.3 billion (the “ Term Loan Credit Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1659166/000119312523293491/0001193125-23-293491-index.htm

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