Leggett & Platt Amends Credit Agreement, Extends Maturity to 2030 and Adjusts Borrowing Capacity to $1 Billion

Reuters
07-26
Leggett & Platt Amends Credit Agreement, Extends Maturity to 2030 and Adjusts Borrowing Capacity to $1 Billion

Leggett & Platt Inc. has announced an amendment to its existing corporate financing agreement, enhancing its financial structure and extending its borrowing capabilities. On July 24, 2025, the company entered into an Amendment Agreement with JPMorgan Chase Bank, N.A., and other lenders, transitioning the Fourth Amended and Restated Credit Agreement into the Fifth Amended and Restated Credit Agreement. This amendment reduces the lender's revolving commitments from $1.2 billion to $1.0 billion and extends the maturity date to July 24, 2030. Additionally, the borrowing capacity under the company's commercial paper program has been decreased from $1.2 billion to $1.0 billion. The agreement also reinstates the company's ability to borrow Canadian dollars and adjusts the "accordion feature" for increased borrowing capacity to up to $500 million. These strategic changes aim to optimize Leggett & Platt's financial flexibility and enhance its marketability.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Leggett & Platt Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-25-165467), on July 25, 2025, and is solely responsible for the information contained therein.

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