Summary
Emerson Electric Co. (EMR) announced the establishment of a new $3.5 billion five-year revolving credit facility on February 17, 2023, which will mature in February 2028. This new facility replaces a similar, existing credit line and is unsecured, providing flexibility for general corporate purposes, including commercial paper borrowings. The company has indicated no current outstanding loans or letters of credit under either the new or previous facilities and has no immediate intention to draw upon it.
Key Highlights
- 1Establishment of a new $3.5 billion unsecured revolving credit facility.
- 2The new facility has a five-year term, maturing in February 2028.
- 3The new facility replaces a prior $3.5 billion facility that was terminated on February 17, 2023.
- 4The credit facility supports general corporate purposes and commercial paper borrowings.
- 5Currently, there are no outstanding loans or letters of credit under the new facility.
- 6Emerson Electric Co. has no current intention to utilize borrowings under this facility.
Frequently Asked Questions
The new $3.5 billion revolving credit facility is intended to support Emerson Electric Co.'s general corporate purposes, which may include commercial paper borrowings.
The new credit facility expires in February 2028, making it a five-year agreement.
No, as of February 17, 2023, there were no outstanding loans or letters of credit under the new 2023 Facility, and the company stated it has no current intention to incur any borrowings.
The new $3.5 billion credit facility is unsecured.