Cintas Corp Enters New Credit Agreement
Ticker: CTAS · Form: 8-K · Filed: Mar 31, 2026 · CIK: 0000723254
Sentiment: neutral
Topics: financing, credit-agreement, debt
TL;DR
Cintas just signed a new credit deal, likely for more cash.
AI Summary
On March 27, 2026, Cintas Corporation entered into a new credit agreement, as detailed in their 8-K filing dated March 31, 2026. This agreement likely involves significant financial obligations for the company, as indicated by the filing of an exhibit related to a credit agreement.
Why It Matters
This filing indicates Cintas Corporation is securing new financing, which could impact its operational flexibility and future investments.
Risk Assessment
Risk Level: low — The filing is a standard disclosure of a material definitive agreement, not an indication of distress or negative events.
Key Players & Entities
- Cintas Corporation (company) — Filer of the 8-K
- 0000723254 (company) — CIK number for Cintas Corporation
- March 31, 2026 (date) — Filing date of the 8-K
- March 27, 2026 (date) — Period of report for the 8-K
FAQ
What is the principal amount and maturity date of the new credit agreement?
The provided 8-K filing does not specify the principal amount or maturity date of the credit agreement, only that a material definitive agreement was entered into.
Which financial institutions are parties to the new credit agreement with Cintas Corporation?
The filing does not name the specific financial institutions involved in the credit agreement; it only lists Cintas Corporation as the registrant.
What are the key terms and covenants associated with the new credit agreement?
The detailed terms and covenants of the credit agreement are not disclosed in the summary sections of the 8-K, but are likely contained within the attached exhibit.
What is the purpose of this new credit agreement for Cintas Corporation?
The filing does not explicitly state the purpose of the credit agreement, but it is filed under Item 1.01 (Entry into a Material Definitive Agreement), suggesting it is for general corporate purposes or specific operational needs.
Does this new credit agreement replace any existing debt facilities for Cintas Corporation?
The filing indicates both Item 1.01 (Entry into a Material Definitive Agreement) and Item 1.02 (Termination of a Material Definitive Agreement), suggesting this new agreement might be related to the termination or amendment of previous arrangements, but specifics are not provided.
Filing Stats: 1,135 words · 5 min read · ~4 pages · Grade level 11.4 · Accepted 2026-03-31 07:56:02
Key Financial Figures
- $2.0 billion — ion (the "Corporation"), entered into a $2.0 billion revolving credit facility (the "Revolvi
- $300.0 million — letter of credit sub-facility of up to $300.0 million and a swing line sub-facility of up to
- $150.0 million — and a swing line sub-facility of up to $150.0 million pursuant to the terms and conditions of
- $1.0 billion — ty or new term loan facilities of up to $1.0 billion in the aggregate, subject to customary
Filing Documents
- ctas-20260327.htm (8-K) — 33KB
- exhibit101creditagreement3.htm (EX-10.1) — 963KB
- ctas-20260327_g1.jpg (GRAPHIC) — 1466KB
- 0000723254-26-000010.txt ( ) — 4534KB
- ctas-20260327.xsd (EX-101.SCH) — 2KB
- ctas-20260327_lab.xml (EX-101.LAB) — 21KB
- ctas-20260327_pre.xml (EX-101.PRE) — 12KB
- ctas-20260327_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Entry into Credit Agreement On March 27, 2026, Cintas Corporation No. 2 ("Cintas No. 2"), a Nevada corporation and wholly-owned subsidiary of Cintas Corporation, a Washington corporation (the "Corporation"), entered into a $2.0 billion revolving credit facility (the "Revolving Credit Facility"), which contains a letter of credit sub-facility of up to $300.0 million and a swing line sub-facility of up to $150.0 million pursuant to the terms and conditions of a Credit Agreement (the "Credit Agreement") among Cintas No. 2, the lenders party thereto and KeyBank National Association, as Administrative Agent. The Credit Agreement provides Cintas No. 2 the ability to request increases in revolving commitments under the Revolving Credit Facility or new term loan facilities of up to $1.0 billion in the aggregate, subject to customary conditions. The Revolving Credit Facility matures on March 27, 2031. Each swing loan made through the swing line sub-facility (a "Swing Loan") has a maturity date of the earlier of (a) 15 days after the date such loan is made and (b) March 27, 2031. The obligations of Cintas No. 2 under the Revolving Credit Facility have been guaranteed by the Corporation and certain of the Corporation's material domestic subsidiaries (collectively, the "Guarantors"). The interest rate per annum applicable to loans under the Revolving Credit Facility, will be, in the case of a Swing Loan, the Base Rate (as defined in the Credit Agreement), or, in the case of all other loans made under the Revolving Credit Facility and at Cintas No. 2's option, equal to either (i) the relevant Term SOFR rate for the selected interest rate period plus an applicable margin of between 70 basis points and 114 basis points (as determined pursuant to the Credit Agreement) or (ii) the Base Rate. The Credit Agreement contains customary covenants, including covenants that limit the ability of Cintas No. 2, the Corporation and t
02. Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement. The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 1.02. Termination of Existing Credit Agreement In connection with the entry into the Credit Agreement as described in Item 1.01 above, on March 27, 2026, Cintas No. 2 terminated all commitments and repaid all obligations under its existing Third Amended and Restated Credit Agreement, dated as of March 23, 2022 (as amended, restated, supplemented or otherwise modified from time to time prior to such date, the "Existing Credit Agreement"), by and among Cintas No. 2, the lenders party thereto and KeyBank National Association, as Administrative Agent. Upon the termination of the Existing Credit Agreement, all of the obligations under the Existing Credit Agreement were terminated. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Credit Agreement, dated as of March 27, 2026, among Cintas Corporation No.2, the Lenders party thereto and KeyBank National Association, as Administrative Agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. CINTAS CORPORATION Date: March 31, 2026 By: /s/ Scott A. Garula Scott A. Garula Executive Vice President and Chief Financial Officer