Illinois Tool Works Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Financial Statements and Exhibits
$ITW
Industrial Machinery/Components
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 24, 2025
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Item 1.01 Entry into a Material Definitive Agreement.
On February 24, 2025, Illinois Tool Works Inc. (the “Company”) entered into an amendment agreement (the “Amendment Agreement”) to the Euro-denominated credit agreement dated as of May 5, 2023 (the “Euro Credit Agreement”) among the Company, the lender(s) party thereto and ING Bank, N.V., London Branch, as Agent. The Amendment Agreement, among other things, (i) extends the termination date of the Euro Credit Agreement to February 28, 2027, provided, however, that the Company may extend such termination date to September 15, 2027 pursuant to the conditions set forth in the Amendment Agreement; (ii) decreases the interest rate spread applicable to Loans (as defined in the Euro Credit Agreement) from 0.75% to 0.70%; and (iii) updates the applicable interest periods to remove the one-month interest period. As of February 24, 2025, the Company had €750 million outstanding under the Euro Credit Agreement and has fully drawn under the Euro Credit Agreement with no amounts available for additional borrowings.
The foregoing description of the Amendment Agreement is not complete and is qualified in its entirety by the terms and provisions of the Amendment Agreement, a copy of which is filed herewith as Exhibit 10(a) and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit Number | Exhibit Description | |||||||
| 104 | Cover Page Interactive Data file (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ILLINOIS TOOL WORKS INC. | ||||||||
| Dated: February 27, 2025 | By: /s/ Randall J. Scheuneman | |||||||
| Randall J. Scheuneman | ||||||||
| Vice President & Chief Accounting Officer | ||||||||