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✓ VerifiedParker-Hannifin entered a new revolving credit agreement increasing its line to $5.0 billion and plans a $2.0 billion delayed draw term loan to help fund its $2.55 billion CIRCOR Commercial and Defense Aerospace acquisition.
Filed Sep 8, 2026 · 08:16 ET
Summary
- On September 4, 2026, Parker-Hannifin entered a new revolving credit agreement that replaces its existing amended and restated agreement and increases the total revolving line of credit to $5.0 billion.
- The Company authorized a corresponding increase in the size of its commercial paper program to $5.0 billion on September 4, 2026.
- The Company expects to enter into a Three-Year Term Loan Agreement with U.S. Bank National Association as administrative agent, providing a delayed draw term loan facility of up to $2.0 billion.
- Proceeds from the term loan, if drawn, will help finance a portion of the CIRCOR Acquisition purchase price or general corporate purposes including repayment of existing indebtedness.
- On May 21, 2026, the Company announced a definitive agreement to acquire CIRCOR International's Commercial and Defense Aerospace business for approximately $2.55 billion in cash.
- The term loan structure permits one draw at closing of the CIRCOR Acquisition and up to two additional draws after closing.
Key facts
- New revolving line of credit
- $5.0 billion
From the filing for New revolving line of credit
“provides for an increase in the total revolving line of credit available thereunder to $5.0 billion”
- Commercial paper program size
- $5.0 billion
From the filing for Commercial paper program size
“authorized a corresponding increase to the size of its commercial paper program to $5.0 billion”
- Delayed draw term loan
- up to $2.0 billion
From the filing for Delayed draw term loan
“a delayed draw term loan facility in the aggregate principal amount of up to $2.0 billion”
- CIRCOR acquisition price
- approximately $2.55 billion
From the filing for CIRCOR acquisition price
“acquire CIRCOR International, Inc.'s Commercial and Defense Aerospace business (the "CIRCOR Acquisition") for approximately $2.55 billion in cash”
- Term loan administrative agent
- U.S. Bank National Association
From the filing for Term loan administrative agent
“Three-Year Term Loan Agreement (the "CIRCOR Credit Agreement") with U.S. Bank National Association, as administrative agent”
- Acquisition announcement date
- May 21, 2026
From the filing for Acquisition announcement date
“On May 21, 2026, the Company announced that it had entered into a definitive agreement to acquire CIRCOR”
- Revolving agreement date
- September 4, 2026
From the filing for Revolving agreement date
“On September 4, 2026, the Company entered into a new revolving credit agreement”
- Draw structure
- one draw at closing and up to two additional draws
From the filing for Draw structure
“the Company expects to be permitted to make one draw at closing of the CIRCOR Acquisition and up to two additional draws after the closing”
Why it mattersParker-Hannifin is arranging financing for its planned acquisition of CIRCOR's Commercial and Defense Aerospace business, expanding aerospace flow-control capabilities. The larger credit and commercial paper capacity provides funding flexibility for the roughly $2.55 billion deal.
- Filed
- Sep 8, 2026
- Accepted
- 2026-09-08 12:16Z
- Period
- Sep 4, 2026
- Accession no.
- 0001193125-26-384428
- Size
- 139 KB
- Index
- Filing index