UL Solutions Inc. Enters into $1 Billion Credit Agreement

On October 28, 2025, UL Solutions Inc. entered into a $1.0 billion senior unsecured five-year multi-currency revolving credit facility with Bank of America, N.A., as administrative agent, and other lenders. The credit agreement includes a $25 million sub-limit for letters of credit and an accordion feature allowing for an increase of up to $500 million, subject to lender consent and customary documentation. The initial borrowing of $291 million was used to refinance the outstanding amounts under the 2022 Credit Facility. Borrowings under the 2025 Credit Facility bear interest at a rate based on a specified benchmark rate plus a margin, with the facility maturing on October 28, 2030. The agreement includes a financial covenant requiring the Company to maintain a consolidated net leverage ratio of not greater than 3.5 to 1.0, with certain exceptions. The 2022 Credit Facility was terminated upon the entry into the new agreement.