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Eaton (NYSE: ETN) secures $8B term loan and more credit
Eaton Corporation plc has significantly expanded its financial flexibility by securing an $8 billion senior unsecured delayed draw term loan facility and increasing its existing revolving credit facility by $1 billion to $4 billion. These moves, detailed in a recent SEC filing, aim to boost the company’s committed liquidity. The term loan matures on December 31, 2026, and both agreements are administered by Citibank, N.A., involving customary conditions and covenants.