8-K - Fortive Corporation | StockGist

AI Analysis

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Fortive Corporation entered into a Third Amended and Restated Credit Agreement on March 17, 2026, providing a $2.0 billion revolving credit facility with multicurrency features, extending maturity from October 18, 2027 to March 17, 2031. No funds were borrowed on the Closing Date, with interest tied to Term SOFR plus 69-110 basis points based on credit rating.

Key Takeaways

1Entered Third Amended and Restated Credit Agreement dated March 17, 2026 with Bank of America, N.A. as administrative agent and syndicate of lenders.

2$2.0 billion aggregate principal amount revolving credit facility, including multicurrency borrowing.

3Maturity Date extended to March 17, 2031, with up to two one-year extension options.

4Optional increase up to $1.0 billion additional principal amount.

5Interest on Term SOFR Loans: Term SOFR plus 69-110 basis points depending on long-term debt credit rating.

6Consolidated Net Leverage Ratio covenant of 3.75 to 1.00 or less, increasable to 4.25 to 1.00 post-$250 million acquisition.

7No borrowings made on Closing Date March 17, 2026.

Current Report Details

Event Type

Material Agreement

Financing

Exhibits Only

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry into a Material Definitive Agreement On March 17, 2026 (the “ Closing Date ”), Fortive Corporation, a Delaware corporation (the “ Company ”), entered in

Material Agreement

$2.00B$1.00B

Source Document

2.03

. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 o

Financing

9.01

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 10.1 Third Amended and Restated Credit Agreement, dated as of March 17, 2026,

Exhibits Only

Transaction Details

Material Agreement

Agreement: Third Amended and Restated Credit Agreement
Parties: Fortive Corporation, Bank of America, N.A., as administrative agent and a swing line lender, syndicate of lenders from time to time party thereto

•5-year revolving credit facility in an aggregate principal amount not to exceed $2.0 billion, which includes a multicurrency borrowing feature.
•Availability period extended from October 18, 2027 to March 17, 2031, subject to up to two one-year extension options.
•Increase option permitting request up to $1.0 billion additional principal amount.
•Borrowings prepayable at option without premium or penalty, repayable and reborrowable prior to Maturity Date.
•Company guarantees obligations of subsidiaries if named co-borrowers.
•Customary covenants restricting liens, indebtedness, restricted payments, asset dispositions, mergers, and use of proceeds.

Debt / Financing

Instrument: Revolving credit facility
Principal: $2.0 billion
Rate: Term SOFR Loans: Term SOFR plus margin of 69-110 basis points (depending on long-term debt credit rating); Base Rate Loans: highest of federal funds rate +0.50%, Bank of America prime rate, Term SOFR (1-month) +1.0%, or 1.0%, plus 0-10 basis points; Alternative Currency Loans: applicable benchmark rate plus 69-110 basis points; floor of 0.0%. Facility fee: 6-15 basis points.
Maturity: March 17, 2031
Use of Proceeds: for permitted uses

Exhibits (2)

10.1

EXHIBIT 10.1

8-K

FORM 8-K