UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.01. | Entry into a Material Definitive Agreement |
Amendment No. 3 to Amended and Restated Credit Agreement
On October 25, 2024, Graco Inc. (the “Company”) entered into an Amendment No. 3 to Amended and Restated Credit Agreement (the “Amendment”) that amends its Amended and Restated Credit Agreement, dated as of March 25, 2021, entered into with U.S. Bank National Association, as administrative agent and a lender, and the other lenders that are parties thereto (as previously amended, restated, supplemented, or otherwise modified, the “Credit Agreement”). The Amendment amended the Credit Agreement by extending the maturity of the Company’s $750 million unsecured revolving credit facility from March 25, 2026 to October 25, 2029. The Amendment also eliminates adjustments to the applicable margin percentages for base rate loans and non-base rate loans, as well as adjustments to the facility fee rate the Company is required to pay on the average daily unused amount of the loan commitments, that would have applied following the Company’s completion of a significant acquisition prior to December 31, 2023.
The foregoing description of the Amendment and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, a copy of which is filed as Exhibit 10.1 and is incorporated by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| 10.1 | ||
| 104 | Cover Page Interactive Data File (included within the Inline XBRL document). | |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GRACO INC. | ||||||||
| Date: October 25, 2024 | By: | /s/ Joseph James Humke | ||||||
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Joseph James Humke
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| Its: Executive Vice President, General Counsel and
Corporate Secretary
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