Fortive draws full $1.75 billion under 364-day loan for Accruent buy

By Sarah Lizee

Olympia, Wash., Sept. 6 – Fortive Corp. drew down the full $1.75 billion available under its 364-day delayed-draw term loan facility on Wednesday in order to fund its acquisition of Accruent, LLC, according to an 8-K filing with the Securities and Exchange Commission.

Bank of America, NA is the administrative agent.

As previously reported, the full amount of the term loan was made available through a single draw during the period from and including Aug. 22 to noon on the date that falls 60 days after the closing date.

Fortive is an industrial growth company based in Everett, Wash.

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