Otis Worldwide Corporation has announced the establishment of a new credit agreement, effective August 8, 2025, involving a $1,500 million revolving credit facility that matures on August 8, 2030. The agreement features Otis as the borrower, with Otis Intercompany Lending Designated Activity Company and other subsidiary borrowers potentially involved. JPMorgan Chase Bank, N.A., acts as the administrative agent, supported by various lenders. The agreement includes customary covenants that restrict Otis and its subsidiaries in terms of incurring additional liens and engaging in sale and leaseback transactions, among other limitations. The financial terms stipulate that borrowings in USD and euro bear interest based on specific rates plus an applicable margin. Concurrently, Otis has terminated its previous credit agreement set to expire in 2028, without incurring any early termination penalties.
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