Item 1.01 Entry into a Material Definitive Agreement.



On September 25, 2020, certain subsidiaries of Rexnord Corporation (the
"Company") entered into an accounts receivable securitization facility (the "New
Securitization") with Mizuho Bank, Ltd. ("Mizuho"), as more fully described
below. The New Securitization replaced the Company's previous $100.0 million
accounts receivable securitization facility with Wells Fargo & Company (the
"Previous Securitization"), which was scheduled to expire in December 2020.

As part of the New Securitization, Rexnord Industries, LLC, Zurn Industries,
LLC, Zurn PEX, Inc., Precision Gear LLC, Centa Corporation and Cambridge
International, Inc. (collectively, the "Originators") have agreed, pursuant to
an Amended and Restated Receivables Sale and Servicing Agreement, dated as of
September 25, 2020 (the "Sale Agreement"), to sell all of their existing and
future accounts receivable and related assets to Rexnord Funding LLC ("Rexnord
Funding"), a bankruptcy-remote special purpose entity, in exchange for cash,
subordinated notes and letters of credit. The Originators and Rexnord Funding
intend for the transactions contemplated by the Sale Agreement to constitute
true sales to Rexnord Funding by the respective Originators. In addition to
being an Originator, Rexnord Industries, LLC is also the current servicer under
the Sale Agreement.
Concurrently with the execution of the Sale Agreement, Rexnord Funding entered
into a Receivables Funding and Administration Agreement (the "Funding
Agreement") with Mizuho, as a lender and administrative agent. Pursuant to the
Funding Agreement, Rexnord Funding granted Mizuho a security interest in all of
its current and future receivables and related assets in exchange for a credit
facility permitting borrowings of up to a maximum aggregate amount of $100.0
million outstanding from time to time. Such borrowings will be used by Rexnord
Funding to finance purchases of accounts receivable from the Originators
pursuant to the Sale Agreement. The amount of advances available will be
determined based on advance rates relating to the eligibility of the receivables
held by Rexnord Funding at that time. Advances bear interest based on LIBOR plus
1.30% per annum. The last date on which advances may be made is September 24,
2021, with a six-month extension option, unless the maturity of the New
Securitization is otherwise accelerated. In addition to other customary fees
associated with financings of this type, Rexnord Funding pays an unused line fee
of 0.40% per annum to Mizuho based on any unused portion of the New
Securitization.

The Funding Agreement contains representations and warranties, affirmative and
negative covenants, and events of default that are customary for financings of
this type. Although currently unrated, Mizuho has the right to seek a rating for
all or a portion of the aggregate borrowings under the New Securitization.

The New Securitization constitutes a "Permitted Receivables Financing" under the
Company's existing credit agreement and a "Qualified Receivables Financing"
under the indenture governing the Company's outstanding senior notes. The New
Securitization does not qualify for sale accounting under Accounting Standards
Codification Topic 860, Transfers and Servicing. Any borrowings under the New
Securitization will be accounted for as secured borrowings on the Company's
consolidated balance sheets. Financing costs associated with the New
Securitization will be recorded within "Interest expense, net" in the
consolidated statements of operations if revolving loans or letters of credit
are obtained under the New Securitization.

The summary of the New Securitization described above is qualified in its
entirety by reference to the Sale Agreement and the Funding Agreement, which are
attached hereto as Exhibits 10.1 and 10.2, respectively, and are incorporated
herein by reference.

Item 1.02 Termination of a Material Definitive Agreement.



On September 25, 2020, as discussed in Item 1.01 above, the Company entered into
the New Securitization in order to replace its Previous Securitization, which
was scheduled to expire on December 30, 2020. On July 10, 2020, as reported in
the Company's Form 10-Q for the quarterly period ended June 30, 2020, the
Company repaid all remaining principal under the Previous Securitization, with
related interest paid in August 2020.
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Item 9.01 Financial Statements and Exhibits.



(d) Exhibits

       Exhibit  No.       Description

               10.1         Amended and Restated Receivables Sale and

Servicing Agreement, entered


                          into as of September     25    , 2020, by and

among each of the originators


                          signatory thereto from time to time, Rexnord

Industries, LLC in its capacity


                          as servicer thereunder and Rexnord Funding LLC,

as buyer.


               10.2         Receivables Funding and Administration

Agreement, entered into as of


                          September     25    , 2020, by and among Rexnord

Funding LLC as the


                          borrower, the financial institutions signatory

thereto from time to time as


                          lenders, and Mizuho Bank, Ltd., as a lender and

as administrative agent for


                          the lenders thereunder.

                104       Cover Page Interactive Data File (embedded within the Inline XBRL document)



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