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Teledyne Technologies (NYSE: TDY) removes 0.10% SOFR add-on from loan

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Teledyne Technologies Incorporated has amended its main credit agreement to change how interest on its borrowings is calculated. On February 25, 2026, the company and its lenders signed a First Amendment to the Second Amended and Restated Credit Agreement with Bank of America as administrative agent.

The amendment removes the Secured Overnight Financing Rate (SOFR) adjustment feature from the agreement and deletes all related references. The prior SOFR adjustment was 0.10% (ten basis points), so eliminating it simplifies the company’s floating-rate interest formula under this syndicated credit facility.

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Insights

Teledyne tweaks loan terms, removing a 0.10% SOFR adjustment.

Teledyne Technologies updated its Second Amended and Restated Credit Agreement by executing a First Amendment on February 25, 2026. The key change is eliminating the 0.10% SOFR adjustment, which previously sat on top of the base Secured Overnight Financing Rate for this facility.

Removing that 0.10% adjustment modestly lowers the formulaic interest cost on SOFR-based borrowings and simplifies the agreement’s rate mechanics. The change applies to an existing syndicated credit line with Bank of America, N.A. as administrative agent, swing line lender and L/C issuer, alongside other lenders.

This is an incremental, technical improvement rather than a transformative balance sheet event. Investors may focus on future disclosures around overall debt levels, interest expense and refinancing activity in subsequent periodic reports to see the broader picture of Teledyne’s funding strategy.

Item 1.01 Entry into a Material Definitive Agreement Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

What change did Teledyne Technologies (TDY) make to its credit agreement?
Teledyne Technologies executed a First Amendment to its Second Amended and Restated Credit Agreement, removing the 0.10% SOFR adjustment. This change simplifies the interest-rate formula on its SOFR-based borrowings and slightly reduces the margin previously applied over the benchmark rate.

When was Teledyne Technologies’ First Amendment to the credit agreement signed?
The First Amendment to Teledyne Technologies’ Second Amended and Restated Credit Agreement was signed on February 25, 2026. This amendment updates the existing June 10, 2024 agreement and specifically eliminates the 0.10% Secured Overnight Financing Rate (SOFR) adjustment feature from the facility.

Which financial institution is administrative agent under Teledyne (TDY)’s amended credit facility?
Bank of America, N.A. serves as administrative agent, swing line lender and L/C issuer under Teledyne’s Second Amended and Restated Credit Agreement. The February 25, 2026 First Amendment keeps Bank of America in these roles while updating interest-rate mechanics by removing the 0.10% SOFR adjustment.

How does removing the 0.10% SOFR adjustment affect Teledyne’s borrowing terms?
Eliminating the 0.10% SOFR adjustment slightly lowers the formulaic interest rate on SOFR-based borrowings under Teledyne’s credit facility. It also makes the calculation more straightforward, since the rate will no longer include this additional ten-basis-point add-on over the SOFR benchmark.

What prior agreement does Teledyne’s First Amendment modify?
The First Amendment modifies Teledyne’s Second Amended and Restated Credit Agreement dated June 10, 2024. That underlying agreement covers Teledyne as borrower and guarantor, designated borrowers, a subsidiary guarantor, various lenders, and Bank of America, N.A. as administrative agent and swing line lender.

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

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Understanding 8-K Material Events →
0001094285false00010942852026-02-252026-02-25

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 25, 2026
 
Teledyne Technologies Incorporated
(Exact name of registrant as specified in its charter)
 
Delaware 1-15295 25-1843385
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
1049 Camino Dos Rios
Thousand Oaks, California
91360-2362
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (805) 373-4545
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 classTrading Symbol(s)Name on each exchange on which registered
Common Stock, par value $.01 per shareTDYNew 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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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 1.01 Entry into a Material Definitive Agreement.

Teledyne Technologies Incorporated (“Teledyne”) is a party to the Second Amended and Restated Credit Agreement, dated as of June 10, 2024, by and among Teledyne, as borrower and guarantor, the designated borrowers party thereto, the subsidiary guarantor party thereto, the lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer (the "Credit Agreement").

On February 25, 2026, Teledyne and the other parties to the Credit Agreement entered into a First Amendment to the Credit Agreement (the "First Amendment"). The First Amendment eliminates the Secured Overnight Financing Rate (SOFR) adjustment feature of the Credit Agreement and removes all references thereto in the Credit Agreement. The SOFR adjustment in the original Credit Agreement was 0.10% (ten basis points).

The foregoing description of the First Amendment is qualified in its entirety by the full text of the First Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit 10.1
First Amendment to the Second Amended and Restated Credit Agreement, dated as of February 25, 2026, by and among Teledyne Technologies Incorporated, as borrower and guarantor, the designated borrowers party thereto, the guarantor party thereto, the lenders party thereto and Bank of America, N.A., as administrative agent, swing line lender and L/C issuer.
Exhibit 104Cover Page Interactive Data File (embedded within the Inline XBRL Document)






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.
 
    TELEDYNE TECHNOLOGIES INCORPORATED
   
  By: /s/ Melanie S. Cibik
    Melanie S. Cibik
    Executive Vice President, General Counsel, Chief Compliance Officer and Secretary
Dated: February 26, 2026

Source: View Original Filing on SEC EDGAR

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