Donaldson Company, Inc. entered into a new $400 million three-year unsecured term loan facility on April 8, 2026, establishing a committed credit line with specific financial covenants.
Key takeaways
Company secured a $400 million three-year unsecured term loan facility, providing committed liquidity.
No amounts were drawn under the facility as of April 8, 2026.
Interest rates are variable, based on Term SOFR or Base Rate plus a spread tied to the company's debt-to-EBITDA ratio.
The agreement includes financial covenants requiring a minimum interest coverage ratio of 3.5:1 and a maximum adjusted debt-to-EBITDA ratio of 3.50:1.
Wells Fargo Bank, National Association serves as administrative agent, with Wells Fargo Securities, LLC and U.S. Bank National Association as joint lead arrangers.