Caterpillar Inc. Announces Amendments to and Extensions of Existing Credit Agreements
September 08, 2021 at 05:08 pm
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On September 2, 2021, Caterpillar Inc. entered into (i) the Amendment No. 1 to Second Amended and Restated Credit Agreement (Three-Year Facility), Amendment No. 1 to Local Currency Addendum and Amendment No. 1 to Japan Local Currency Addendum, dated September 2, 2021 (collectively, the “Three-Year Facility Amendment”), which amended the Second Amended and Restated Credit Agreement (Three-Year Facility) dated September 5, 2019 and the related Local Currency Addendum and Japan Local Currency Addendum (collectively, the “2019 Three-Year Facility”) and (ii) the Amendment No. 1 to Second Amended and Restated Credit Agreement (Five-Year Facility), Amendment No. 1 to Local Currency Addendum and Amendment No. 1 to Japan Local Currency Addendum, dated September 2, 2021 (collectively, the “Five-Year Facility Amendment”, and together with the Three-Year Facility Amendment and the 364-Day Facility, the “Credit Facilities”), which amended the Second Amended and Restated Five-Year Credit Agreement (Five-Year Facility) dated September 5, 2019 and the related Local Currency Addendum and Japan Local Currency Addendum (collectively, the “2019 Five-Year Facility”). The Three-Year Facility Amendment, among other things, extends the expiration date of the 2019 Three-Year Facility to September 2, 2024, and the Five-Year Facility Amendment, among other things, extends the expiration date of the 2019 Five-Year Facility to September 2, 2026. The Credit Facilities are available for general corporate purposes. As of the date hereof, the Borrowers have not drawn on the Credit Facilities.
Caterpillar Inc. is the world's leading producer of mining construction and operation equipment, diesel and natural gas motors, and industrial gas turbines. Net sales break down by activity as follows:
- sale of machines and motors (94.5%): terracing and construction machines (power shovels, high-lifts, bulldozers, etc.), agricultural and forestry tractors, motors and turbines (for heavy trucks, boats, industrial machines, and power stations), conveyer systems, hydraulic circuits and components, etc.;
- financial services (5.2%) ;
-other (0.6%).
Net sales are distributed geographically as follows: North America (51.6%), Europe/Africa/Middle East (20.4%), Asia/Pacific (18.1%) and Latin America (9.9%).