Otis Worldwide Corp.
Otis Worldwide Corporation Announces New Credit Agreement and Termination of Existing One
Summary
On August 8, 2025, Otis Worldwide Corporation entered into a new $1,500 million credit agreement, replacing its existing credit agreement. The new agreement provides a revolving credit facility that matures on August 8, 2030. The existing agreement was terminated without incurring early termination penalties. The new agreement includes customary affirmative and negative covenants and financial covenants related to leverage ratios.
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About Otis Worldwide Corp.
Otis Worldwide Corp. is a leading manufacturer and service provider in the vertical transportation industry, specializing in elevators, escalators, and moving walkways. Founded in 1853, the company has played a pivotal role in enhancing urban mobility across residential, commercial, and industrial buildings globally. Otis stands out for its advanced engineering solutions and commitment to safety and sustainability, delivering reliable and efficient transportation systems that cater to the modern needs of skyscrapers and high-capacity structures. With a focus on innovation, Otis continues to develop smart and connected products that improve building efficiency and user experience, such as the Otis ONE IoT platform for predictive maintenance. Operating in over 200 countries, Otis is a critical player in the infrastructure sector, contributing to the functionality and modernization of urban environments. As a result, it holds significant importance within the engineering and construction industries, influencing trends and standards in building design and operational excellence.
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