Loan & DebtApr 10, 2026, 04:06 PM
Donaldson Secures New $400M Term Loan Facility
AI Summary
Donaldson Company, Inc. entered into a new three-year, unsecured, delayed draw term loan credit facility for $400 million with Wells Fargo Bank, National Association, as administrative agent. This facility provides the company with additional liquidity, with no amount currently outstanding. The interest rates for borrowings will be based on either Term SOFR or a Base Rate, plus an Applicable Rate determined by the company's debt-to-EBITDA ratio.
Key Highlights
- Secured a new $400 million term loan credit facility.
- Three-year committed, unsecured, delayed draw facility.
- Interest rates based on Term SOFR or Base Rate plus Applicable Rate.
- Requires maintaining interest coverage ratio of 3.5 to 1.00.
- Adjusted debt-to-EBITDA ratio not more than 3.50 to 1.00.