Carlisle Companies Inc. Enters Material Definitive Agreement
Ticker: CSL · Form: 8-K · Filed: Apr 3, 2024 · CIK: 790051
| Field | Detail |
|---|---|
| Company | Carlisle Companies INC (CSL) |
| Form Type | 8-K |
| Filed Date | Apr 3, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1, $1.0 billion |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation
Related Tickers: CSL
TL;DR
Carlisle just signed a big deal, watch their financials.
AI Summary
On April 3, 2024, Carlisle Companies Inc. entered into a Material Definitive Agreement related to a direct financial obligation. The filing does not specify the counterparty or the exact nature of the obligation, but it indicates a significant financial event for the company.
Why It Matters
This filing signals a significant financial commitment or transaction by Carlisle Companies Inc., which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting a potentially significant financial event for the company.
Key Players & Entities
- CARLISLE COMPANIES INC (company) — Registrant
- April 3, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the Material Definitive Agreement entered into by Carlisle Companies Inc. on April 3, 2024?
The filing states that Carlisle Companies Inc. entered into a Material Definitive Agreement, but the specific details of the agreement are not provided in this excerpt.
What type of direct financial obligation is Carlisle Companies Inc. undertaking?
The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of this obligation are not disclosed in this excerpt.
What is the filing date for this 8-K report?
The filing date for this 8-K report is April 3, 2024.
What is Carlisle Companies Inc.'s fiscal year end?
Carlisle Companies Inc.'s fiscal year end is December 31.
What is the Standard Industrial Classification code for Carlisle Companies Inc.?
The Standard Industrial Classification code for Carlisle Companies Inc. is 3060, which corresponds to FABRICATED RUBBER PRODUCTS, NEC.
Filing Stats: 845 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-04-03 17:30:26
Key Financial Figures
- $1 — ange on which registered Common stock, $1 par value CSL New York Stock Exchange
- $1.0 billion — a. The Credit Agreement provides for a $1.0 billion unsecured revolving line of credit (the
Filing Documents
- csl-20240403.htm (8-K) — 30KB
- ex-101xfiftharcreditagreem.htm (EX-10.1) — 1090KB
- csl-20240403_g1.jpg (GRAPHIC) — 98KB
- image_1.jpg (GRAPHIC) — 4KB
- 0000790051-24-000081.txt ( ) — 1705KB
- csl-20240403.xsd (EX-101.SCH) — 2KB
- csl-20240403_def.xml (EX-101.DEF) — 15KB
- csl-20240403_lab.xml (EX-101.LAB) — 27KB
- csl-20240403_pre.xml (EX-101.PRE) — 16KB
- csl-20240403_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On April 3, 2024, Carlisle Companies Incorporated ("the Company") and Carlisle, LLC entered into a Fifth Amended and Restated Credit Agreement (the "Revolving Credit Agreement") with a syndicate of banks arranged JPMorgan Chase Bank, N.A., Wells Fargo Securities, LLC, BofA Securities, Inc. and Truist Securities, Inc., as joint lead arrangers and joint bookrunners, Wells Fargo Bank, N. A., Bank of America, N.A., Truist Bank and The Toronto-Dominion Bank, New York Branch, as co-syndication agents, Mizuho Bank, Ltd., as documentation agent, JPMorgan Chase Bank, N.A., as administrative agent, PNC Bank National Association and The Bank of Nova Scotia. The Credit Agreement provides for a $1.0 billion unsecured revolving line of credit (the "Revolving Credit Facility") with a maturity date of April 3, 2029 and amends and restates the Fourth Amended and Restated Credit Agreement, which was scheduled to expire on February 5, 2025. The Revolving Credit Facility will bear interest, at the Company's election, (i) at the Base Rate plus a margin ranging from 0.00% to 0.50% or (ii) at the applicable benchmark rate plus a margin ranging from 0.825% to 1.500%, in each case, based on the Company's debt rating from time to time. The benchmark rate for loans denominated in (i) U.S. dollars is the Adjusted Term SOFR Rate, (ii) Canadian dollars is the Adjusted Term CORRA Rate, (iii) Sterling is Daily Simple SONIA, (iv) euros is the Adjusted EURIBOR Rate and (v) yen is Adjusted TIBOR Rate. The commitments will also be subject to a facility fee on the daily aggregate amount of the revolving commitment (whether used or unused) ranging from 0.05% to 0.25% based on the Company's debt rating from time to time. Funding of the loans under the Revolving Credit Agreement is subject to customary drawdown conditions. The facility includes various restrictive covenants and limitations including, but not limited to, a maximum leverage ratio cov
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Title 10.1 Fifth Amended and Restated Credit Agreement, dated as of April 3, 2024, by and among Carlisle Companies Incorporated and Carlisle, LLC, as co-borrowers, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto. 104 Cover page interactive data file (formatted in inline XBRL). 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. CARLISLE COMPANIES INCORPORATED Date: April 3, 2024 By: /s/ Kevin P. Zdimal Kevin P. Zdimal Vice President and Chief Financial Officer