Trane Technologies Secures $1.5B Credit Facility
Ticker: TT · Form: 8-K · Filed: Jun 13, 2024 · CIK: 1466258
Sentiment: neutral
Topics: credit-facility, financing, corporate-action
TL;DR
Trane Technologies just locked in a $1.5B credit line until 2029.
AI Summary
On June 13, 2024, Trane Technologies plc filed an 8-K report detailing a new financial obligation. The company entered into a credit agreement, establishing a $1.5 billion revolving credit facility. This facility is set to mature on June 13, 2029, and is intended to support general corporate purposes.
Why It Matters
This new credit facility provides Trane Technologies with significant financial flexibility for its ongoing operations and strategic initiatives.
Risk Assessment
Risk Level: low — The filing pertains to a standard credit facility, which is a common and generally low-risk financial instrument for established companies.
Key Numbers
- $1.5B — Revolving Credit Facility (Provides financial flexibility for corporate purposes.)
- 5 years — Maturity Term (The credit facility is available until June 13, 2029.)
Key Players & Entities
- Trane Technologies plc (company) — Registrant
- $1.5 billion (dollar_amount) — Revolving credit facility amount
- June 13, 2024 (date) — Date of report and credit agreement
- June 13, 2029 (date) — Maturity date of credit facility
FAQ
What is the purpose of the new credit facility?
The credit facility is intended to support general corporate purposes of Trane Technologies plc.
What is the total amount of the credit facility?
The credit facility has a total commitment of $1.5 billion.
When does the credit facility mature?
The credit facility matures on June 13, 2029.
What type of credit facility is this?
This is a revolving credit facility.
What is the filing date of this 8-K?
The filing date of this 8-K is June 13, 2024.
Filing Stats: 1,511 words · 6 min read · ~5 pages · Grade level 10.8 · Accepted 2024-06-13 16:06:09
Key Financial Figures
- $1.00 — registered Ordinary Shares, Par Value $1.00 per Share TT New York Stock Exchang
- $500 million — chnologies plc ("Trane Parent"), issued $500 million aggregate principal amount of 5.100% Se
Filing Documents
- d826179d8k.htm (8-K) — 38KB
- d826179dex11.htm (EX-1.1) — 208KB
- d826179dex41.htm (EX-4.1) — 503KB
- d826179dex42.htm (EX-4.2) — 172KB
- d826179dex51.htm (EX-5.1) — 12KB
- d826179dex52.htm (EX-5.2) — 72KB
- d826179dex53.htm (EX-5.3) — 29KB
- g826179g32s33.jpg (GRAPHIC) — 4KB
- 0001193125-24-160700.txt ( ) — 1409KB
- tt-20240613.xsd (EX-101.SCH) — 3KB
- tt-20240613_def.xml (EX-101.DEF) — 14KB
- tt-20240613_lab.xml (EX-101.LAB) — 23KB
- tt-20240613_pre.xml (EX-101.PRE) — 14KB
- d826179d8k_htm.xml (XML) — 6KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits: Exhibit No. Description 1.1 Underwriting Agreement, dated as of June 4, 2024, by and among Trane Technologies Financing Limited, as issuer, Trane Technologies plc, Trane Technologies Global Holding II Company Limited, Trane Technologies Americas Holding Corporation, Trane Technologies Lux International Holding Company S. r.l., Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Company LLC and Trane Technologies HoldCo Inc., as guarantors, and Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Mizuho Securities USA LLC, as representatives of the several underwriters. 4.1 Indenture, dated as of June 13, 2024, by and among Trane Technologies Financing Limited, as issuer, Trane Technologies plc, Trane Technologies Global Holding II Company Limited, Trane Technologies Americas Holding Corporation, Trane Technologies Lux International Holding Company S. r.l., Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Company LLC and Trane Technologies HoldCo Inc., as guarantors, and Computershare Trust Company, N.A., as Trustee, relating to the 5.100% Senior Notes due 2034. 4.2 Supplemental Indenture, dated as of June 13, 2024, by and among Trane Technologies Financing Limited, as issuer, Trane Technologies plc, Trane Technologies Global Holding II Company Limited, Trane Technologies Americas Holding Corporation, Trane Technologies Lux International Holding Company S. r.l., Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Company LLC and Trane Technologies HoldCo Inc., as guarantors, and Computershare Trust Company, N.A., as Trustee, relating to the 5.100% Senior Notes due 2034. 4.3 Form of Global Note representing the 5.100% Senior Notes due 2034 (included in Exhibit 4.2). 5.1 Opinion of King & Spalding LLP. 5.2 Opinion of Arthur Cox LLP. 5.3 Opinion of Loyens & Loeff Luxembourg SARL. 104 Cover Page Interactive Data File
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. TRANE TECHNOLOGIES PLC (Registrant) Date: June 13, 2024 /s/ Evan M. Turtz Evan M. Turtz, Senior Vice President, General Counsel and Secretary 4