Item 1.01 Entry into a Material Definitive Agreement.

364-Day Credit Agreement

On January 26, 2022, Stanley Black & Decker, Inc., a Connecticut corporation (the "Company") entered into a 364-Day Credit Agreement (the "Credit Agreement") with each of the initial lenders named therein, Citibank, N.A., as administrative agent, Citibank, N.A. and BofA Securities, Inc., as lead arrangers and book runners, and Bank of America, N.A. as syndication agent.

The Credit Agreement consists of a $2.5 billion revolving credit loan, which may be drawn by the Company and its subsidiaries which are designated as Designated Borrowers under the Credit Agreement (each, a "Borrower"). The Company guarantees its obligations and the obligations of each Designated Borrower under the Credit Agreement.

Borrowings under the Credit Agreement are made in US Dollars and bear interest at rates equal to, at the option of the Company, a base rate or a term SOFR rate.

The Company must repay all advances under the Credit Agreement by the earlier of (i) January 25, 2023 or (ii) the date of termination in whole, at the election of the Company, of the commitments by the lenders under the Credit Agreement (the "Termination Date"). The Company may, however, convert all advances outstanding on the Termination Date in effect at such time into a term loan ("Term Loan"), provided that the Company, among other things, pays a fee to the administrative agent for the account of each lender. The Term Loan shall be repaid in full no later than the first anniversary of the Termination Date.

Each Borrower may prepay advances, subject to the terms and conditions of the Credit Agreement. In addition, upon a change of control, the Company may be required to prepay any borrowings under the Credit Agreement upon request of the lenders holding at least a majority of the commitments under the Credit Agreement.

The proceeds under the Credit Agreement may be used solely for general corporate purposes. None of the proceeds from the Credit Agreement were drawn down at closing.

The Credit Agreement contains customary affirmative and negative covenants that include, among other things:





  •   maintenance of an interest coverage ratio;




     •    a limitation on creating liens on certain property of the Company and its
          subsidiaries;




     •    a restriction on mergers, consolidations, liquidations or sales of
          substantially all of the assets of the Company or its subsidiaries; and




  •   a restriction on entering into certain sale-leaseback transactions.

The Credit Agreement contains customary events of default. If an event of default occurs and is continuing, the Company may be required to repay all amounts outstanding under the Credit Agreement.

The description contained herein is a summary of certain material terms of the Credit Agreement and is qualified in its entirety by reference to the Credit Agreement attached as Exhibit 10.1 hereto and incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an


           Off-Balance Sheet Arrangement of a Registrant.

The information provided in Item 1.01 is incorporated herein by reference.

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Item 9.01. Financial Statements and Exhibits.




(d) Exhibits.



Exhibit
Number                                    Description

10.1           364-Day Credit Agreement, made as of January 26, 2022 among Stanley
             Black & Decker, Inc., the initial lenders named therein and Citibank,
             N.A. as administrative agent for the lenders.

104          Cover Page Interactive Data File (formatted as inline XBRL).

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