Applied Industrial Technologies enters $900 million senior unsecured credit facility maturing 2030
Applied Industrial Technologies entered a $900 million senior unsecured revolving credit facility dated October 24, 2025, replacing its prior $900 million credit agreement from December 2021. The new facility will refinance the existing credit facility and fund working capital and general corporate purposes, which may include acquisitions. The filing does not report a change in the company's revenue, profit or guidance, so the effect on shareholders depends on the terms of the new borrowing.
Key points
- Credit Facility of $900 million matures October 24, 2030, with up to $800 million of additional borrowing available through increases or incremental term loans
- Loans bear interest at base rate plus 0 to 35 basis points, or adjusted term SOFR plus 80 to 135 basis points, based on net leverage ratio
- Covenants include maximum net leverage ratio of 3.75 to 1.0 (up to 4.25 to 1.0 for certain material acquisitions) and minimum interest coverage ratio of 2.75 to 1.0
- Replaces the prior $900 million credit agreement dated December 9, 2021, with KeyBank National Association as administrative agent
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 24, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.