Graco borrows $250 million under $500 million revolver

By Wendy Van Sickle

Columbus, Ohio, March 24 – Graco Inc. provided notice to its lenders on March 19 to borrow $250 million under its $500 million revolving credit facility, according to an 8-K filing with the Securities and Exchange Commission.

The company said it borrowed under the credit facility in order to increase its cash position and preserve financial flexibility in light of uncertainty resulting from the Covid-19 pandemic.

Proceeds will be available to be used for working capital, general corporate or other purposes.

U.S. Bank NA is the administrative agent for the credit facility, which has a maturity date of Dec. 15, 2021.

Graco is a Minneapolis-based provider of fluid-management technology.

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