Otis Worldwide Corp. Files 8-K for Debt and Agreement Changes

TL;DR

Otis is changing up its debt and agreements - big financial moves happening.

AI Summary

On August 8, 2025, Otis Worldwide Corp. entered into a material definitive agreement related to the issuance of new debt. The company also terminated a material definitive agreement and created a direct financial obligation. Specific details on the dollar amounts and terms of these agreements are not fully disclosed in this filing.

Why It Matters

This filing indicates significant changes in Otis Worldwide Corp.'s financing and contractual obligations, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and financial obligations, suggesting potential shifts in the company's financial health or strategic direction.

Key Players & Entities

• Otis Worldwide Corp. (company) — Registrant
• August 8, 2025 (date) — Date of Report
• Delaware (jurisdiction) — State of Incorporation

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock ($0.01 par value) OTIS New York Stock Exch
• $1,500 million — it Agreement ") governing its unsecured $1,500 million revolving credit facility, which mature
• $500 million — nt in an aggregate amount not to exceed $500 million. The Credit Agreement contains affirma

Filing Documents

• ef20053618_form8k.htm (8-K) — 38KB
• ef20053618_ex10-01.htm (EX-10.01) — 783KB
• logo1.jpg (GRAPHIC) — 7KB
• 0001140361-25-029921.txt ( ) — 1166KB
• otis-20250808.xsd (EX-101.SCH) — 5KB
• otis-20250808_def.xml (EX-101.DEF) — 18KB
• otis-20250808_lab.xml (EX-101.LAB) — 27KB
• otis-20250808_pre.xml (EX-101.PRE) — 20KB
• ef20053618_form8k_htm.xml (XML) — 8KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On August 8, 2025, Otis Worldwide Corporation (" Otis "), entered into a new credit agreement (the " Credit Agreement ") governing its unsecured $1,500 million revolving credit facility, which matures on August 8, 2030. The Credit Agreement was entered into by and among Otis, as borrower, Otis Intercompany Lending Designated Activity Company, a designated activity company organized under the laws of Ireland (" OIL "), as subsidiary borrower, each other subsidiary borrower party thereto from time to time, the lenders party thereto JPMorgan Chase Bank, N.A. (" JPM "), as administrative agent, and the other parties thereto from time to time . Also on August 8, 2025, Otis terminated all commitments outstanding under the existing credit agreement by and among, Otis, as borrower, OIL, as subsidiary borrower, the lenders party thereto, JPM as administrative agent, and the other parties thereto (the " Terminated Credit Agreement "). The Terminated Credit Agreement was scheduled to expire on March 10, 2028. No early termination penalties were incurred by Otis as a result of the termination of the Terminated Credit Agreement. The obligations of OIL and any other subsidiary borrower under the Credit Agreement are guaranteed by Otis. United States dollar-denominated borrowings under the Credit Agreement bear interest at a rate per annum equal to, at Otis' option, either a term SOFR rate or a base rate, and euro-denominated borrowings under the Credit Agreement bear interest at a rate per annum equal to, at Otis' option, either a EURIBO rate or a daily simple ESTR rate, in each case calculated in a manner set forth in the Credit Agreement, plus an applicable margin. The applicable margin initially is 1.125% for term SOFR rate, EURIBO rate and daily simple ESTR rate borrowings, and 0.125% for base rate borrowings, and can fluctuate, determined by reference to Otis' public debt rating, as specified in the Credit Agreement

02. Termination of a Material Definitive Agreement

Item 1.02. Termination of a Material Definitive Agreement. The information with respect to the Terminated Credit Agreement set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. The information with respect to the Credit Agreement set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits to this Form 8-K. Exhibit Number Exhibit Description 10.01 Revolving Credit Agreement, dated as of August 8, 2025, by and among Otis Worldwide Corporation, as borrower, Otis Intercompany Lending Designated Activity Company, as subsidiary borrower, each other subsidiary borrower party thereto, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and the other parties thereto from time to time. 1.04 Cover Page Interactive Data File – the cover page iXBRL tags are 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. OTIS WORLDWIDE CORPORATION (Registrant) Date: August 8, 2025 By: /s/ Cristina Mndez Cristina Mndez Executive Vice President & Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR