Carlisle amends, restates revolver for $1 billion maturing in 2029

By Wendy Van Sickle

Columbus, Ohio, April 4 – Carlisle Cos. Inc. and Carlisle, LLC entered on Wednesday into a fifth amended and restated credit agreement for a $1 billion unsecured revolver that matures April 3, 2029, according to an 8-K filing with the Securities and Exchange Commission.

JPMorgan Chase Bank, NA, Wells Fargo Securities, LLC, BofA Securities, Inc. and Truist Securities, Inc. are the joint lead arrangers and joint bookrunners, Wells Fargo Bank, NA, Bank of America, NA, Truist Bank and Toronto-Dominion Bank, New York Branch are co-syndication agents. Mizuho Bank, Ltd. is the documentation agent. JPMorgan is administrative agent.

The credit agreement amends and restates the fourth amended and restated credit agreement, which was scheduled to expire on Feb. 5, 2025.

The revolver will bear interest at term SOFR plus a margin ranging from 82.5 basis points to 150 bps, and the commitment fee will range from 5 bps to 25 bps, both based on the company’s debt rating.

The facility includes a maximum leverage ratio covenant, minimum interest coverage ratio covenant and limits on outstanding debt balances held by the company's consolidated subsidiaries.

Carlisle is a diversified manufacturing company based in Scottsdale, Ariz.

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