Parker-Hannifin Expands Revolving Credit & CP Program to $5.0B, Outlines $2.0B Term Loan for CIRCOR Acquisition

Event Overview

On September 8, 2026, Parker-Hannifin Corporation filed a Form 8-K reporting material updates regarding its liquidity facilities and acquisition debt financing under Item 8.01 (Other Events):

1. Revolving Credit Agreement & Commercial Paper Program Upsizing:

   • On September 4, 2026, the company entered into a new revolving credit agreement that replaces its previous amended and restated facility, increasing total available credit to $5.0 billion.
   • Concurrently, the company authorized an increase in the size of its commercial paper program to $5.0 billion (supported by the credit facility's unused capacity).

2. Three-Year Delayed Draw Term Loan Agreement (CIRCOR Acquisition):

   • Parker-Hannifin previously announced a definitive agreement on May 21, 2026, to acquire the Commercial and Defense Aerospace business of CIRCOR International, Inc. for approximately $2.55 billion in cash.
   • The company expects to enter into a Three-Year Term Loan Agreement (CIRCOR Credit Agreement) with U.S. Bank National Association as administrative agent for an aggregate principal amount of up to $2.0 billion via a delayed draw term loan facility.
   • The facility allows one initial draw at closing and up to two additional draws post-closing to fund the acquisition and/or general corporate purposes.