Trimble (TRMB) Repays Obligations under Term Loan Credit Agreement

On April 1, 2024, Trimble (NASDAQ: TRMB) repaid in full all obligations outstanding under the Term Loan Credit Agreement, dated as of December 27, 2022, by and among the Company, the lenders party thereto and Bank of America, N.A., as Administrative Agent (as amended from time to time, the “Term Loan Credit Agreement”) and terminated the agreement. On such date, $1 billion aggregate principal amount of loans had been outstanding under the Term Loan Credit Agreement. (See Trimble’s Report on Form 8-K filed on December 30, 2022 for a description of the terms of the Term Loan Credit Agreement.) The funds used for the repayment were a portion of the funds received by Trimble in connection with the completion on April 1, 2024 of the transactions contemplated by the Sale and Contribution Agreement by and among the Company, AGCO Corporation, and PTx Trimble LLC (the “A&R Sale and Contribution Agreement”). (See Trimble’s report on Form 8-K filed on April 1, 2024 for a description of the terms of the A&R Sale and Contribution Agreement.)

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