8-KMaterial AgreementsFinancial EventsExhibits & Filings

AGILENT TECHNOLOGIES, INC. 8-K Report, Material Agreement (Oct 22, 2019)

Filed October 22, 2019For Securities:A

Summary

Agilent Technologies, Inc. (A) filed an 8-K on October 22, 2019, detailing an amendment to its Credit Agreement. Specifically, Amendment No. 2 to the Credit Agreement, entered into on October 21, 2019, refreshes the company's ability to establish additional incremental term loan facilities of up to $500,000,000. While the company has fully utilized its initial incremental facilities, this amendment provides flexibility for future borrowing. The proceeds from any new term loans under these additional facilities are designated for working capital and general corporate purposes. Importantly, Agilent is not currently drawing on these additional facilities, indicating a proactive approach to maintaining financial flexibility rather than an immediate need for funds. The amendment also includes standard representations, warranties, covenants, and events of default, consistent with typical credit agreements.

Key Highlights

  • 1Agilent Technologies amended its Credit Agreement on October 21, 2019, via Amendment No. 2.
  • 2The amendment allows for the establishment of up to $500,000,000 in Additional Incremental Facilities.
  • 3These new facilities are intended for working capital and general corporate purposes.
  • 4Agilent has fully utilized its previous $500,000,000 in Initial Incremental Facilities.
  • 5The company is not currently borrowing under the new Additional Incremental Facilities.
  • 6The amendment incorporates standard representations, warranties, covenants, and events of default.

Frequently Asked Questions

The primary purpose of Amendment No. 2 is to refresh Agilent's ability to establish new incremental term loan facilities of up to $500,000,000, which can be used for working capital and general corporate purposes.

No, Agilent Technologies is not currently borrowing any funds under the Additional Incremental Facilities as described in the amendment. This indicates they are preserving the option for future use rather than facing an immediate funding need.

Agilent had previously established Initial Incremental Facilities totaling up to $500,000,000, which they have fully utilized. This new amendment provides an equivalent amount for future potential borrowing.

Proceeds from any term loans drawn under the Additional Incremental Facilities can be used for working capital and general corporate purposes of Agilent Technologies and its subsidiaries.