Emerson Electric Secures $2 Billion Unsecured 364-Day Credit Facility

Reuters
Feb 14
Emerson Electric Secures $2 Billion Unsecured 364-Day Credit Facility

Emerson Electric Co. has entered into a new $2 billion 364-Day Credit Agreement with a syndicate of banks led by JPMorgan Chase Bank, N.A., along with Bank of America, N.A., Citibank, N.A., and Goldman Sachs Bank USA as syndication agents. The credit facility, which expires on February 9, 2027, is intended to support general corporate purposes, including serving as a liquidity back-up for Emerson's commercial paper borrowings. This new unsecured facility replaces a previous $3 billion agreement that expired. Currently, there are no outstanding borrowings or letters of credit under the new facility, and the company has stated it has no immediate plans to utilize it.

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