8-K - Cintas Corporation | StockGist

AI Analysis

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Cintas Corporation No. 2 entered into a new $2.0 billion revolving credit facility maturing in 2031, replacing its existing credit agreement, with a leverage ratio covenant of 3.50 to 1.00.

Key Takeaways

1Cintas No. 2 entered a $2.0 billion revolving credit facility with a March 27, 2031 maturity, replacing the prior 2022 facility.

2The facility includes a $300.0 million letter of credit sub-facility and a $150.0 million swing line sub-facility.

3Cintas No. 2 may request commitment increases or new term loans up to an additional $1.0 billion aggregate amount.

4A financial covenant requires maintaining a leverage ratio of consolidated indebtedness to consolidated EBITDA of no more than 3.50 to 1.00.

5The Corporation and certain material domestic subsidiaries guarantee the obligations under the Revolving Credit Facility.

6Interest rates for non-swing loans are based on Term SOFR plus a margin of 70 to 114 basis points or the Base Rate.

Current Report Details

Event Type

Material Agreement

Financing

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry into a Material Definitive Agreement. Entry into Credit Agreement On March 27, 2026, Cintas Corporation No. 2 (“Cintas No. 2”), a Nevada corporation and

Material Agreement

$2.00B$300.0M$150.0M$1.00B

Source Document

1.02

. Termination of Existing Credit Agreement In connection with the entry into the Credit Agreement as described in Item 1.01 above, on March 27, 2026, Cintas No.

Material Agreement

Source Document

2.03

. Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number: 10.1 | Description: Credit Agreement, dated as of March 27, 2026, among Cintas Cor

Financing

Transaction Details

Material Agreement

Agreement: Credit Agreement
Parties: Cintas Corporation No. 2, KeyBank National Association, as Administrative Agent, Lenders party thereto

•Dated as of March 27, 2026
•$2.0 billion revolving credit facility
•Matures on March 27, 2031
•Letter of credit sub-facility of up to $300.0 million
•Swing line sub-facility of up to $150.0 million
•Ability to request increases in revolving commitments or new term loan facilities of up to $1.0 billion in the aggregate
•Guaranteed by Cintas Corporation and certain material domestic subsidiaries
•Interest rate options: Term SOFR plus 70-114 basis points or Base Rate

Debt / Financing

Instrument: Revolving Credit Facility
Principal: 2000000000
Rate: Term SOFR plus 70-114 basis points or Base Rate
Maturity: 2031-03-27
Use of Proceeds: Not disclosed

Exhibits (2)

10.1

EX-10.1

8-K