Applied Industrial Technologies Inc. has announced an amendment to its accounts receivable securitization facility, extending its maturity to July 10, 2028. Initially set to expire on August 4, 2026, the amendment includes changes to the Receivables Financing Agreement and the Purchase and Sale Agreement. The company, along with its wholly-owned subsidiary AIT Receivables LLC, collaborated with PNC Bank, National Association, PNC Capital Markets LLC, and other lenders to execute these changes. As part of the transaction, AIT Receivables paid customary fees to the lenders. This amendment aims to secure the company's financial arrangements for an extended period.
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