Financing Agreements

3 Months Ended

Dec. 31, 2025

The following table summarizes Hillenbrand’s current and long-term debt as of:


	December 31, 2025		September 30, 2025
$1,000 revolving credit facility (excluding outstanding letters of credit)	$	283.5	$	225.0
€240 term loan	278.7		281.3
$175 term loan	172.8		175.0
$500 senior unsecured notes (1)	496.2		495.8
$350 senior unsecured notes (2)	347.8		347.7

Total debt	1,579.0		1,524.8
Less: current portion	22.9		22.8
Total long-term debt	$	1,556.1	$	1,502.0

(1)Includes unamortized debt issuance costs of $3.8 and $4.2 at December 31, 2025 and September 30, 2025, respectively.

(2)Includes unamortized debt issuance costs of $2.2 and $2.3 at December 31, 2025 and September 30, 2025, respectively.

On July 9, 2025, the Company entered into a Fifth Amended and Restated Credit Agreement (the “Amended Credit Agreement”), which governs the multi-currency revolving credit facility (the “Facility”), by and among Hillenbrand and certain of its affiliates, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. The Amended Credit Agreement decreased the maximum principal amount available for borrowing under the Facility to $700.0. The Amended Credit Agreement extended the maturity date of the Facility to July 9, 2030. The Amended Credit Agreement further provided for a U.S. Dollar denominated $175.0 term loan facility (the “$175 Term Loan”) and a delayed-draw term loan facility in an aggregate principal amount of up to €240.0 (the “€240 Term Loan”). As of December 31, 2025, the Company had $15.8 in outstanding letters of credit issued and $400.7 of borrowing capacity under the Facility, of which $34.5 was available as of such date based on the Company’s most restrictive covenant. The weighted-average interest rate on borrowings under the Facility was 3.52% and 4.96% for the three months ended December 31, 2025 and 2024, respectively. The weighted average facility fee on the Facility was 0.24% and 0.24% for the three months ended December 31, 2025 and 2024, respectively. The weighted-average interest rate on the $175 term loan was 5.85% for the three months ended December 31, 2025. The weighted-average interest rate on the €240 term loan was 3.74% for the three months ended December 31, 2025.

Remaining unamortized deferred financing costs related to the Facility, $175 term loan and €240 term loan were $5.5 in aggregate, as of December 31, 2025, and are being amortized to interest expense over the remaining term of these agreements.

In the normal course of business, the Company provides, primarily to certain customers, bank guarantees and other credit arrangements in support of performance, warranty, advance payment, and other contractual obligations. This form of trade finance is customary in the industry and, as a result, the Company maintains adequate capacity to provide the guarantees. As of December 31, 2025 and September 30, 2025, the Company had credit arrangements totaling $668.0 and $666.1, respectively, under which $363.3 and $374.3, respectively, were used for guarantees. These arrangements include the Company’s Syndicated L/G Facility Agreement (“L/G Facility”) and other ancillary credit facilities. Remaining unamortized deferred financing costs related to the L/G Facility were $1.2 as of December 31, 2025, and are being amortized to interest expense over the remaining term of the agreement.

As of December 31, 2025, Hillenbrand was in compliance with all covenants contained in the foregoing agreements and credit instruments and there were no events of default.