Summary
Linde plc (LIN) has entered into a new 364-day unsecured revolving credit agreement totaling $1.5 billion. This facility, secured by full and unconditional guarantees from the Company and certain subsidiaries, is intended for general corporate purposes. The agreement provides flexibility with borrowing options in multiple currencies, including USD, Sterling, and Euros, and includes provisions for swingline loans up to $50 million (USD) and €25 million (EUR). Notably, the Credit Agreement does not contain a financial maintenance covenant, which is a positive sign for operational flexibility. The company has the option to convert outstanding revolving loans into non-revolving term loans, payable one year after the commitment termination date. As of the filing date, there were no outstanding borrowings under this new facility, indicating strong liquidity and no immediate need for these funds.
Key Highlights
- 1Entered into a $1.5 billion 364-day unsecured revolving credit agreement.
- 2Facility available for general corporate purposes.
- 3Allows borrowings in USD, Pounds Sterling, Euros, and other agreed currencies.
- 4Includes $50 million USD and €25 million EUR swingline loan commitments.
- 5Full and unconditional guarantees provided by Linde plc and certain subsidiaries.
- 6Does not contain a financial maintenance covenant.
- 7No outstanding borrowings as of the filing date, signifying ample liquidity.