Short answer
Stanley Black & Decker (SWK) filed an 8-K current report with the SEC on June 24, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 1.02 (Termination of a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation). $3.0 billion total revolving capacity: $1.0 billion 364-day facility plus $2.0 billion five-year facility.
Stanley Black & Decker 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $3.0 billion total revolving capacity: $1.0 billion 364-day facility plus $2.0 billion five-year facility
- Five-year maturity extends to June 18, 2031, with potential one-year extensions in 2027 and 2028
- No borrowings at closing, preserving liquidity for general corporate purposes without immediate leverage increase
- Interest coverage covenant requires at least 3.50x, with temporary 2.50x threshold through fiscal 2026 second quarter
- $250 million cap on EBITDA adjustment addbacks through fiscal 2026 second quarter, limiting covenant flexibility
Item 1.02 · Termination of a Material Definitive Agreement
- Prior 364-day credit agreement dated June 23, 2025 formally terminated
- Replacement 364-day credit agreement entered concurrently, indicating refreshed short-term liquidity arrangements
- Existing lender and agent syndicate superseded by the new facility terms
Other items in this filing:
- Item 2.03: Creation of a Direct Financial Obligation
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