Rockwell inks 364-day $400 million term loan credit agreement

By Rebecca Melvin

New York, April 21 – Rockwell Automation Inc. received funds under a new $400 million 364-day term loan credit agreement on Monday, according to an 8-K filing with the Securities and Exchange Commission.

The facility matures on April 19, 2021 and is in addition to Rockwell’s existing $1.25 billion five-year credit agreement dated Nov. 13, 2018, which remains outstanding and undrawn.

U.S. Bank NA is administrative agent and PNC Bank NA is syndication agent with BMO Harris Bank NA and TD Bank NA as documentation agents.

Proceeds will be used for general corporate purposes, including acquisition financing for two previously announced acquisitions that are expected to close in the next few weeks, other acquisition funancing and working capital.

Rockwell is soon acquiring Kalypso LP, a U.S. software delivery and consulting firm, and ASEM SpA, a provider of digital automation technologies based in Italy.

Rockwell is a Milwaukee-based information solutions provider for the auto industry.

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