Stanley Black & Decker closes $1.25B 364-day credit facility; amends 5-year covenant to 2.50x

STANLEY BLACK & DECKER, INC.

Entered into a $1.25 billion 364-day revolving credit facility with Citibank, BofA, JPMorgan, Wells Fargo, with no initial draws.
Amended existing 5-year credit agreement: interest coverage ratio reduced from 3.50x to 2.50x through Q2 2026.
Applicable Adjustment Addbacks (restructuring, M&A, etc.) capped at $250M aggregate for any Adjustment Period.
Prior $1.25B 364-day credit agreement dated June 28, 2024 was terminated.
Optional conversion to a term loan on maturity (June 22, 2026) allowed upon fee payment.

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