Trimble Inc.: enters $500,000,000 delayed draw term loan facility

What happened

• The filing says Trimble Inc. entered into a Term Loan Credit Agreement on Oct 2, 2026 providing for an unsecured delayed draw term loan facility in the aggregate principal amount of $500,000,000. As of Oct 2, 2026 no term loans have been borrowed under the agreement.

Key details

• Administrative agent: Bank of America, N.A.; lenders are the parties from time to time party thereto.
• Availability and maturity: borrowings may be made in up to 4 draws on or prior to Jan 29, 2027; undrawn commitments terminate after that date; term loans mature 2 years after the initial borrowing date.
• Pricing and fees: ticking fee on undrawn commitments of 0.075% to 0.275% per annum (accruing from Dec 1, 2026); interest at borrower’s option of alternate base rate plus a margin of 0.00% to 0.750% or term SOFR (1- or 3-month) plus a margin of 0.875% to 1.750%; applicable margins and some fees depend on the company’s credit rating or leverage ratio.
• Other terms: customary representations, affirmative and negative covenants (including limits on liens and subsidiary indebtedness), a financial covenant requiring maintenance of a maximum leverage ratio, and events of default including nonpayment, covenant breaches, cross-defaults, bankruptcy and change of control; acceleration is automatic for bankruptcy-related defaults.

Why it may matter

• The filing reports Item 1.01 (entry into a material definitive agreement) and Item 2.03 (creation of a direct financial obligation) covering the $500,000,000 delayed draw term loan facility and the material economic and covenant terms described above. This filing does not show why the company acted.