W.W. Grainger borrows $1 billion under five-year revolver

By Wendy Van Sickle

Columbus, Ohio, March 31 – W.W. Grainger, Inc. provided notice to its lenders on March 26 to borrow about $1 billion under its $1.25 billion five-year syndicated revolving credit facility agreement entered on Feb. 14, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The drawdown was made to increase the company’s cash position and preserve financial flexibility in light of current uncertainty in the global markets resulting from the Covid-19 pandemic. W.W. Grainger said it plans to use the proceeds borrowed for general corporate purposes.

JPMorgan is the administrative agent.

The industrial supply company is based in Lake Forest, Ill.

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