CTS CORP (CTS): debt financing — CTS Corporation enters into $300M unsecured revolving credit facility, replacing prior $400M facility

CTS CORP

New $300M revolving facility with Wells Fargo as administrative agent; expires November 2025.
Proceeds used to repay $63.3M outstanding under previous $400M credit facility terminated Nov 24, 2025.
Covenants: net leverage ≤ 3.5:1 (4.25:1 for up to four quarters after $100M+ acquisition), interest coverage ≥ 3.0:1.
Incremental capacity up to greater of $125M or 100% EBITDA, subject to pro forma net leverage ≤ 3.0:1.

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

CTS CORP incurred revolving credit of $300 million with Wells Fargo Bank, National Association at base rate loans: at a rate per annum equal to the sum of the applicable margin p maturing five years from the closing date.

Instrument: revolving credit
Principal: $300 million
Counterparty: Wells Fargo Bank, National Association
Rate: base rate loans: at a rate per annum equal to the sum of the applicable margin p
Maturity: five years from the closing date
Event: incurrence

Exact text from the filing

Bank, N.A., as Joint-Lead Arrangers; and the guarantors and lenders from time-to-time party thereto. The Credit Agreement provides for an unsecured revolving credit facility of $300 million. In addition, the Company may request, with the written consent of the Administrative Agent (and subject to certain additional conditions), that the aggregate credit extended

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Source: SEC EDGAR

accession 0001193125-25-293643

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