01—Abstract
Summary
Summary of the 8-K filed February 26, 2026. Cited figures are marked; the original filing is the authoritative source.
Teledyne Technologies Incorporated (TDY) filed a Current Report on Form 8-K disclosing an amendment to its existing credit facility.
Teledyne is a party to a Second Amended and Restated Credit Agreement dated June 10, 2024, with Bank of America, N.A. as Administrative Agent, Swing Line Lender and L/C Issuer. On February 25, 2026, Teledyne and the other parties entered into a First Amendment to that agreement. The First Amendment eliminates the Secured Overnight Financing Rate (SOFR) adjustment feature of the Credit Agreement and removes all references to it.
The filing states that the SOFR adjustment in the original Credit Agreement was 0.10%a (ten basis points). The filing does not describe any change to borrowing capacity, pricing other than the removal of this adjustment, or other financial terms. The full text of the First Amendment is filed as Exhibit 10.1 and incorporated by reference, along with an Inline XBRL cover page file (Exhibit 104).
02—Key points
Key Highlights
- Teledyne entered into a First Amendment to its Second Amended and Restated Credit Agreement on February 25, 2026.
- The amendment eliminates the SOFR adjustment feature and all references to it in the Credit Agreement.
- The original SOFR adjustment was 0.10% (ten basis points).
- The underlying Credit Agreement is dated June 10, 2024, with Bank of America, N.A. as Administrative Agent, Swing Line Lender and L/C Issuer.
- Teledyne is the borrower and guarantor under the agreement, with designated borrowers and subsidiary guarantors party thereto.
- The full amendment is filed as Exhibit 10.1 to the 8-K.
03—Questions
Frequently Asked Questions
What did Teledyne change in its credit agreement?
Teledyne and the other parties amended the Credit Agreement to eliminate the SOFR adjustment feature and remove all references to it, according to the 8-K.
What was the SOFR adjustment that was removed?
The filing states the SOFR adjustment in the original Credit Agreement was 0.10% (ten basis points).
When was the amendment entered into?
The First Amendment is dated and was entered into on February 25, 2026, and the 8-K was filed on February 26, 2026.
Who is the administrative agent under the credit agreement?
Bank of America, N.A. serves as Administrative Agent, Swing Line Lender and L/C Issuer under the Second Amended and Restated Credit Agreement.
Where can investors find the full terms of the amendment?
The full text of the First Amendment is filed as Exhibit 10.1 to the Current Report on Form 8-K and is incorporated by reference into the filing.
04—Continue