Illinois Tool Works amends €750 million Euro credit agreement, extends maturity to 2027
Illinois Tool Works entered into an amendment to its Euro-denominated credit agreement with ING Bank, N.V., London Branch, as agent, on February 24, 2025. The amendment extends the termination date to February 28, 2027, with an option to extend to September 15, 2027, and lowers the interest rate spread on loans from 0.75% to 0.70%. The company's facility is fully drawn, so the change affects the cost and term of existing borrowing rather than adding available capacity.
Key points
- Amendment dated February 24, 2025, to the Euro credit agreement originally dated May 5, 2023
- Termination date extended to February 28, 2027; company may extend to September 15, 2027 under stated conditions
- Interest rate spread on loans decreased from 0.75% to 0.70%
- €750 million outstanding; facility fully drawn with no amounts available for additional borrowing
The filing
Written by AI on Nov 8, 2026, 1:21 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 27, 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.