Donaldson increases revolver to $500 million, extends it to 2022

By Angela McDaniels

Tacoma, Wash., July 24 – Donaldson Co., Inc. amended its credit agreement on Friday to increase the revolving credit facility’s borrowing availability to $500 million and extend its maturity date to July 21, 2022, according to an 8-K filing with the Securities and Exchange Commission.

The amended facility also has a $50 million accordion feature.

The interest rate for the revolver is Libor plus 100 basis points. The margin ranges from 79.5 bps to 137.5 bps.

Finally, the credit agreement includes a $250 million term loan due July 21, 2022.

Wells Fargo NA is the administrative agent.

Donaldson is a Minneapolis-based manufacturer of filtration systems and replacement parts.

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