Timken entered into a Sixth Amended and Restated Credit Agreement establishing a $1.2 billion unsecured revolving credit facility to refinance its prior revolver and for general corporate purposes. The facility matures on July 2, 2031 and features interest and fees set by a ratings-based pricing grid. The agreement is unsecured and includes customary covenants on leverage and interest coverage, providing Timken with enhanced liquidity and flexibility for working capital, capex, acquisitions and debt refinancing.
Agreement details:
- Agreement type: Unsecured revolving credit facility
- Counterparty: Bank of America and JPMorgan Chase, as Co-Administrative Agents, and other lenders
- Signed / Effective: Jul 02 2026 / same
- Duration / Termination: 5 years (matures Jul 02 2031)
- Reason: Refinance prior revolver and fund general corporate needs
Original SEC Filing:
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