secwatch.observer — SEC 8-K summary
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Issuer:     Fortive Corp (FTV)
CIK:        0001659166
Form:       8-K
Filed at:   2023-12-12T23:59:59+00:00
Accession:  0001193125-23-293491
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1659166/000119312523293491/0001193125-23-293491-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1659166/000119312523293491/d636269d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-293491

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