: Trimble raises $1 billion in debt on heels of acquisition plan


Trimble Inc. TRMB, +0.16% said Friday it raised $1 billion in debt with Bank of America Corp. BAC, -0.06% as it prepares to acquire a logistics software company. The Colorado-based positions technology company said it entered into a term loan credit agreement for a $1 billion unsecured delayed draw term loan facility. The $1 billion is comprised of a $500 million, three-year tranche and a $500 million five-year tranche. Trimble on Dec. 12 agreed to acquire Germany-based Transporeon, a cloud-based transportation management software platform, for EUR1.88 billion ($2 billion), from seller Hg Capital LLP. Shares of Trimble are down 42% in 2022, compared to a 33% drop by the Nasdaq COMP, -0.11%.

This article was originally published by Marketwatch.com. Read the original article here.

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