May. 19 at 9:03 PM
Fortive's
$FTV subsidiary Ralliant just secured
$2.05B in fresh debt facilities ahead of the spinoff. While liquidity is assured, the floating rate structure (SOFR + 87.5-162.5bps) adds interest risk as net leverage already sits at 8x EBITDA. More concerning -
$700M of proceeds will flow back to Fortive as a cash distribution, effectively leveraging the parent pre-separation. Not what bulls wanted to see with Test & Measurement still in the gutter.
https://www.sec.gov/Archives/edgar/data/1659166/000110465925050497/tm2515504d1_8k.htm