Emerson Electric enters $3.5 billion five-year replacement revolver

By Wendy Van Sickle

Columbus, Ohio, Feb. 21 – Emerson Electric Co. entered into a $3.5 billion five-year revolving credit facility on Feb. 17 with JPMorgan Chase Bank, NA as agent and Citibank, NA as syndication agent, according to an 8-K filing with the Securities and Exchange Commission.

The facility replaces a similar $3.5 billion five-year revolver dated May 23, 2018.

The revolver supports general corporate purposes, including commercial paper borrowings.

Borrowings bear interest at SOFR plus a spread that ranges from 58 basis points to 101.5 bps, and there is a facility fee of 4.5 bps to 11 bps, both based on Emerson’s credit ratings.

Emerson is a St. Louis-based technology and engineering company.

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