Trane Technologies Enters $1 Billion Revolving Credit Facility

Trane Technologies plc and its subsidiaries entered into a new $1 billion senior unsecured revolving credit agreement with a syndicate of banks led by JPMorgan Chase. The facility matures on March 15, 2022, and replaces a prior $1 billion credit agreement from 2016. Proceeds are for working capital, commercial paper support, and general corporate purposes.

“On June 4, 2020, Trane Technologies Holdco Inc. (“TTH”), Trane Technologies Global Holding Company Limited (“TT Global”) and Trane Technologies Luxembourg Finance S.A. (“TT Lux” and, together with TT Global and TTH, the “Borrowers”), Trane Technologies plc (“TT Parent”), Trane Technologies Lux International Holding Company S.à r.l. (“TT Lux Holding Company”), Trane Technologies Irish Holdings Unlimited Company (“Irish Holdings”), Trane Technologies Company LLC (“TTC” and, together with TT Parent, Irish Holdings and TT Lux Holding Company, the “Guarantors”), JPMorgan Chase Bank, N.A., as Administrative Agent, Citibank, N.A., as Syndication Agent, Deutsche Bank Securities Inc., Goldman Sachs Bank USA and MUFG Bank, Ltd., as Documentation Agents, and JPMorgan Chase Bank, N.A., Citibank, N.A., BofA Securities, Inc., BNP Securities Corp. and Mizuho Bank, Ltd., as joint lead arrangers and joint bookrunners, and certain lending institutions from time to time parties thereto, entered into a new $1 billion senior unsecured revolving credit agreement (the “2020 Revolving Credit Agreement”).”

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