Company: ABM
Filing Date: 2025-02-28
Form Type: 8-K
Source: 0000950170-25-030050
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Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-28
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

On February 26, 2025 (the “ Closing Date”), ABM Industries Incorporated (“ ABM” or the “ Company”) entered into the Amended and Restated Credit Agreement (the “ Credit Agreement”) among ABM, ABM Aviation UK Limited, a company incorporated and registered in England and Wales as a private company limited by shares and a subsidiary of ABM (“ ABM UK”), each of the other subsidiaries of ABM from time to time party thereto (collectively, the “ Subsidiary Guarantors” and each, a “ Subsidiary Guarantor”), the financial institutions listed on the signature pages thereof as lenders (the “ Lenders”) and Bank of America, N. A. as administrative agent and collateral agent for the Lenders (in such capacities, the “ Agent”), which amended and restated that certain Credit Agreement, dated as of September 1, 2017 (as amended from time to time prior to the date hereof, the “ Original Credit Agreement”), by and among ABM, ABM UK, the Subsidiary Guarantors party thereto, the financial institutions listed on the signature pages thereof and the Agent.

Among other things, the Credit Agreement provides for an aggregate principal amount of commitments under the dollar and multicurrency revolving credit facilities of $1.6 billion and an aggregate principal amount of commitments under the term facility of $600 million, in each case with a five-year term maturing on February 26, 2030.

ABM and ABM UK are the initial borrowers under the Credit Agreement. Subject to certain limitations, ABM has the ability to designate additional borrowers. The obligations under the Credit Agreement are guaranteed by the material, domestic wholly-owned subsidiaries of ABM, and are secured by a pledge of substantially all of the existing and future property and assets of ABM and the guarantors, including a pledge of the capital stock of the wholly owned domestic subsidiaries held by ABM and the guarantors and 65% of the capital stock of the first-tier foreign subsidiaries held by ABM and the guarantors, in each case subject to exceptions.

Borrowings under the Credit Agreement bear interest at a rate equal to an applicable margin that raises based on ABM’s total net leverage ratio plus, at ABM’s option, either (i) Term Secured Overnight Financing Rate “ Term SOFR” or (ii) a base rate determined by reference to the