ITT Inc. Signs $2.875 Billion Delayed Draw Term Loan to Fund SPX FLOW Acquisition
ITT entered into a credit agreement providing delayed draw term loan commitments of $2.875 billion, which can be drawn on up to two occasions to finance its previously announced acquisition of SPX FLOW, Inc. The filing sets out borrowing costs, a maturity of two years from the first borrowing, and a maximum net debt to adjusted EBITDA ratio of 3.50 to 1.00, which adds debt obligations for shareholders to weigh against the acquisition.
Key points
- Delayed draw term loan commitments total $2,875,000,000 and expire on September 11, 2026 if undrawn or not otherwise terminated.
- DDTL Loans bear interest at Term SOFR plus 1.00% to 1.50%, or an alternate base rate plus 0.00% to 0.50%, based on the Company's debt ratings.
- An unused commitment fee of 0.10% per year accrues from May 3, 2026 until the loans are fully funded or the commitments end.
- Loans mature two years from the first borrowing and may be prepaid without penalty or premium, subject to customary conditions.
The filing
Written by AI on Nov 8, 2026, 12:42 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 February 18, 2026.
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.