Loan & DebtMay 13, 2026, 05:17 PM
Acuity Secures New $800M Unsecured Revolving Credit Facility
AI Summary
Acuity Inc. has entered into a new Credit Agreement, establishing an $800 million unsecured revolving credit facility that matures in May 2031. This new agreement replaces the company's previous credit facility from June 2022. The facility includes customary restrictions and covenants, such as maintaining a maximum leverage ratio of 3.75 to 1.00, with a temporary increase option for significant acquisitions. Interest rates are tied to various benchmarks plus an applicable margin.
Key Highlights
- Acuity Inc. entered into a new Credit Agreement on May 8, 2026.
- The agreement provides an unsecured revolving credit facility with an initial maximum availability of $800 million.
- The facility matures in May 2031.
- It replaces the Company's existing Credit Agreement dated June 30, 2022.
- Loans bear interest at an adjusted base rate, Term SOFR, EURIBOR, Daily Simple SONIA, or Term CORRA, plus an applicable margin.
- The Company must maintain a maximum leverage ratio of 3.75 to 1.00, which can temporarily increase to 4.25 to 1.00 for material acquisitions.
- The facility is guaranteed by the Company's material domestic and certain other subsidiaries.