Parker-Hannifin adds $5B credit line for CIRCOR

Parker-Hannifin Corporation (PH) reports that on September 4, 2026 it entered into a new revolving credit agreement replacing its prior facility and increasing the total revolving line of credit to $5.0 billion.

Rhea-AI Filing Summary

Parker-Hannifin Corporation (PH) reports that on September 4, 2026 it entered into a new revolving credit agreement replacing its prior facility and increasing the total revolving line of credit to $5.0 billion. The company also authorized a corresponding increase in the size of its commercial paper program to $5.0 billion, supported by unused capacity under its credit facilities.

The company previously announced an agreement to acquire CIRCOR International, Inc.’s Commercial and Defense Aerospace business for approximately $2.55 billion in cash and expects to fund this with new debt, including commercial paper borrowings, and cash on hand. It expects to enter into a Three-Year Term Loan Agreement providing a delayed draw term loan facility of up to $2.0 billion to finance a portion of the CIRCOR purchase price or for general corporate purposes, including possible prepayment or repayment of existing indebtedness. Parker-Hannifin states that closing of the CIRCOR acquisition and entry into the CIRCOR Credit Agreement are subject to conditions and uncertainties and may not be consummated.

Positive

• Expanded liquidity through a new revolving credit agreement and larger commercial paper program, each with capacity of $5.0 billion, supporting funding flexibility for operations and acquisitions.

Negative

• Plans to fund the $2.55 billion CIRCOR aerospace acquisition primarily with new debt, including a delayed draw term loan facility of up to $2.0 billion and commercial paper borrowings, increasing reliance on leverage.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Revolving line of credit: $5.0 billion Commercial paper program size: $5.0 billion CIRCOR aerospace acquisition price: $2.55 billion +1 more

4 metrics

Revolving line of credit $5.0 billion Total revolving credit available under new revolving credit agreement entered September 4, 2026

Commercial paper program size $5.0 billion Authorized size of Parker-Hannifin’s commercial paper program after September 4, 2026 increase

CIRCOR aerospace acquisition price $2.55 billion Cash purchase price for CIRCOR International, Inc.’s Commercial and Defense Aerospace business

CIRCOR Credit Agreement delayed draw term loan $2.0 billion Aggregate principal amount of expected three-year delayed draw term loan facility

Key Terms

revolving credit agreement, commercial paper program, delayed draw term loan facility, general corporate purposes, +1 more

5 terms

revolving credit agreement financial

"entered into a new revolving credit agreement, which replaces its existing"

A revolving credit agreement is a flexible loan arrangement where a borrower can borrow, repay, and borrow again up to a set limit, similar to a credit card. It matters because it gives businesses or individuals quick access to funds whenever needed, helping manage cash flow and cover expenses without applying for a new loan each time.

commercial paper program financial

"maintains a commercial paper program supported by unused capacity"

A commercial paper program is a formal way a company issues very short-term IOUs to raise quick cash, typically for days to months, without using a bank loan. Investors care because it shows how the company manages short-term funding and how trustworthy it appears—like watching whether someone keeps using and repaying a credit card; frequent use or higher costs can signal cash strain, while smooth issuance suggests healthy liquidity.

delayed draw term loan facility financial

"provide for a delayed draw term loan facility in the aggregate"

A delayed draw term loan facility is a committed loan that a borrower can tap in one or more installments at specified future times after meeting agreed conditions, rather than receiving the full amount upfront. For investors it matters because it provides a ready source of cash that can change a company’s financial strength, leverage and interest costs when drawn—similar to having a reserved credit line you can use later, which affects liquidity and the risk profile of the business.

general corporate purposes financial

"purchase price for the CIRCOR Acquisition or for general corporate purposes"

"General corporate purposes" refer to the broad range of activities and expenses a company can use its funds for to support its overall operations and growth. This can include things like paying bills, investing in new projects, or strengthening its financial position. For investors, understanding this term helps clarify how a company plans to use its resources to sustain and expand its business over time.

forward-looking statements regulatory

"Forward-looking statements contained in this and other written and oral reports"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

FAQ

What new credit facility did Parker-Hannifin (PH) enter into on September 4, 2026?

Parker-Hannifin entered into a new revolving credit agreement on September 4, 2026 that replaces its existing amended and restated revolving credit agreement and increases the total revolving line of credit available to $5.0 billion.

How large is Parker-Hannifin’s updated commercial paper program (PH)?

Parker-Hannifin authorized an increase in the size of its commercial paper program to $5.0 billion. The program is supported by unused capacity under the company’s credit facilities and is expected to help fund needs including the pending CIRCOR aerospace acquisition.

What is the purchase price for the CIRCOR aerospace acquisition by PH?

Parker-Hannifin agreed to acquire CIRCOR International, Inc.’s Commercial and Defense Aerospace business for approximately $2.55 billion in cash. The company expects to fund this purchase with new debt, including commercial paper borrowings, and cash on hand.

What are the key terms of Parker-Hannifin’s expected CIRCOR Credit Agreement?

Parker-Hannifin expects to enter a Three-Year Term Loan Agreement providing a delayed draw term loan facility of up to $2.0 billion. The company expects to be permitted one draw at closing of the CIRCOR acquisition and up to two additional draws afterward.

Will the CIRCOR acquisition and related term loan for PH definitely close?

No. Parker-Hannifin states that closing of the CIRCOR aerospace acquisition and entry into the related CIRCOR Credit Agreement are subject to a number of conditions and other uncertainties, and there can be no assurance that either transaction will be consummated.

How does Parker-Hannifin plan to use proceeds from the CIRCOR Credit Agreement?

Parker-Hannifin expects that proceeds from the up to $2.0 billion CIRCOR Credit Agreement, if and to the extent drawn, will be used to finance a portion of the CIRCOR acquisition purchase price or for general corporate purposes, which may include prepayment or repayment of existing indebtedness.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/08/2026 - 08:16 AM Accepted by SEC EDGAR 09/08/2026 - 08:16 AM Learn about SEC filing dates

Parker-Hannifin Corp false 0000076334 0000076334 2026-09-04 2026-09-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 4, 2026

PARKER-HANNIFIN CORPORATION

(Exact Name of Registrant as Specified in Charter)

Ohio		1-4982		34-0451060
(State or other jurisdiction of Incorporation or Organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

6035 Parkland Boulevard, Cleveland, Ohio		44124-4141
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (216) 896-3000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol		Name of Each Exchange on which Registered
Common Shares, $.50 par value		PH		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

Revolving Credit Agreement and Commercial Paper Program

Parker-Hannifin Corporation (the “Company”) maintains a commercial paper program supported by unused capacity under its credit facilities. On September 4, 2026, the Company entered into a new revolving credit agreement, which replaces its existing amended and restated revolving credit agreement and provides for an increase in the total revolving line of credit available thereunder to $5.0 billion. On September 4, 2026, the Company also authorized a corresponding increase to the size of its commercial paper program to $5.0 billion.

Three-Year Delayed Draw Term Loan Agreement

On May 21, 2026, the Company announced that it had entered into a definitive agreement to acquire CIRCOR International, Inc.’s Commercial and Defense Aerospace business (the “CIRCOR Acquisition”) for approximately $2.55 billion in cash, which the Company expects to fund with new debt, including commercial paper borrowings, and cash on hand. The Company expects to enter into a Three-Year Term Loan Agreement (the “CIRCOR Credit Agreement”) with U.S. Bank National Association, as administrative agent, and the various financial institutions to be named therein as lenders, which will provide for a delayed draw term loan facility in the aggregate principal amount of up to $2.0 billion. The proceeds of the CIRCOR Credit Agreement, if and to the extent drawn, are expected to be used by the Company to finance a portion of the purchase price for the CIRCOR Acquisition or for general corporate purposes, which may include the prepayment or repayment of existing indebtedness. Under the CIRCOR Credit Agreement, the Company expects to be permitted to make one draw at closing of the CIRCOR Acquisition and up to two additional draws after the closing of the CIRCOR Acquisition. The closing of the CIRCOR Acquisition and the entry into the CIRCOR Credit Agreement are subject to a number of conditions and other uncertainties and there can be no assurance that either transaction will be consummated.

Forward-Looking Statements

Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and may also include statements regarding future performance, orders, earnings projections, events or developments. The Company cautions readers not to place undue reliance on these statements. It is possible that the future performance may differ materially from past performance or current expectations.

Among other factors that may affect future performance are: changes in business relationships with and orders by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms, changes in contract costs and revenue estimates for new development programs; changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the pending CIRCOR Acquisition and the integration of Filtration Group Corporation and Curtis Instruments, Inc.; ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination and ability to successfully undertake business realignment activities and the expected costs, including cost savings, thereof; ability to implement successfully business and operating initiatives, including the timing, price and execution of share repurchases and other capital initiatives; availability, cost increases of or other limitations on the Company’s access to raw materials, component products and/or commodities if associated costs cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and other government actions, including related to environmental protection, and associated compliance costs; supply chain and labor disruptions, including as a result of tariffs and labor shortages; threats associated with international conflicts, including geopolitical tensions in the Middle East, and cybersecurity risks and risks associated with protecting the Company’s intellectual property; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; effects on market conditions, including sales and pricing, resulting from global reactions to U.S. trade policies; manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and economic conditions such as inflation,

deflation, interest rates and credit availability; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in the tax laws in the United States and foreign jurisdictions and judicial or regulatory interpretations thereof; and large scale disasters, such as floods, earthquakes, hurricanes, industrial accidents and pandemics. Readers should also consider forward-looking statements in light of risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2026 and other periodic filings made with the Securities and Exchange Commission.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

PARKER-HANNIFIN CORPORATION
By:		/s/ Joseph R. Leonti
		Joseph R. Leonti
		Executive Vice President, General Counsel and Secretary

Date: September 8, 2026

Filing Exhibits & Attachments

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Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB