Parker-Hannifin Corporation has increased its total revolving credit facility and commercial paper program to $5.0 billion. The company also announced plans to enter into a new $2.0 billion delayed draw term loan agreement to help finance its previously announced acquisition of CIRCOR International's aerospace business.
Key Details
- Revolving Credit & Commercial Paper: On September 4, 2026, the company entered a new revolving credit agreement, increasing its total credit line to $5.0 billion and authorizing a corresponding increase to its commercial paper program.
- Acquisition Term Loan: A planned Three-Year Term Loan Agreement will provide a delayed draw facility of up to $2.0 billion.
- Use of Proceeds: The term loan is expected to fund a portion of the previously announced $2.55 billion acquisition of CIRCOR's Commercial and Defense Aerospace business.