APPLIED INDUSTRIAL TECHNOLOGIES INC (AIT): debt financing — Applied Industrial Technologies enters $900M credit facility, replaces 2021 agreement

APPLIED INDUSTRIAL TECHNOLOGIES INC

$900M senior unsecured revolving credit facility matures Oct 24, 2030, replacing prior $900M facility.
Accordion feature permits up to $800M additional commitments via increases or incremental term loans.
Interest rates at SOFR plus 80-135 bps; facility fee 7.5-15 bps based on leverage ratio.
Financial covenants: interest coverage >= 2.75:1, net leverage <= 3.75:1 (up to 4.25:1 for acquisitions).
Proceeds to refinance existing credit facility and fund working capital, general corporate, and acquisitions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

APPLIED INDUSTRIAL TECHNOLOGIES INC incurred revolving credit of $900 million with KeyBank National Association at base rate plus a margin that ranges from 0 to 35 basis points or adjusted term S maturing October 24, 2030.

Instrument: revolving credit
Principal: $900 million
Counterparty: KeyBank National Association
Rate: base rate plus a margin that ranges from 0 to 35 basis points or adjusted term S
Maturity: October 24, 2030
Event: incurrence

Exact text from the filing

On October 24, 2025 (the “Closing Date”), Applied Industrial Technologies, Inc. (the “Registrant”) entered into a Credit Agreement (the “Credit Agreement”) with certain financial institutions party thereto and KeyBank National Association, as Administrative Agent for itself and the other financial institutions, providing for a $900 million senior unsecured revolving credit facility (the “Credit Facility”).

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Source: SEC EDGAR

accession 0001193125-25-249961

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