NORDSON CORP (NDSN): debt financing — Nordson closes acquisition of Arag for €957M, funded with new €760M term loan

NORDSON CORP

Acquired Arag S.r.l. (agricultural spraying precision systems) for ~€957M cash, net of ~€30M debt repayment.
Funded by €760M 364-day term loan (JPMorgan, matures Aug 21, 2024) and revolving credit facility borrowings.
Term loan interest at EURIBOR plus margin based on leverage; covenants include leverage and interest coverage ratios.
Acquisition closed Aug 24, 2023, previously disclosed June 25, 2023; expands into agricultural precision dispensing.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

NORDSON CORP incurred term loan of €760.0 million with JPMorgan Chase Bank, N.A., as Administrative Agent at eurocurrency rate plus an applicable margin maturing August 21, 2024.

Instrument: term loan
Principal: €760.0 million
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent
Rate: eurocurrency rate plus an applicable margin
Maturity: August 21, 2024
Event: incurrence

Exact text from the filing

On August 23, 2023, Nordson Corporation (the “Company”) entered into a 364-Day Term Loan Credit Agreement (the “Term Loan Agreement”) with JPMorgan Chase Bank, N.A., as Administrative Agent (the “Agent”), Sole Lead Arranger and Sole Bookrunner, and various financial institutions named therein as lenders. The Term Loan Agreement provides for a term loan facility in the aggregate principal amount of €760.0 million (the “Term Loan Facility”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NORDSON CORP entered into 364-Day Term Loan Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, and various financial institutions named therein as lenders valued at €760.0 million (effective 2023-08-23).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, and various financial institutions named therein as lenders
Value: €760.0 million
Effective: 2023-08-23

Exact text from the filing

On August 23, 2023, Nordson Corporation (the “Company”) entered into a 364-Day Term Loan Credit Agreement (the “Term Loan Agreement”) with JPMorgan Chase Bank, N.A., as Administrative Agent (the “Agent”), Sole Lead Arranger and Sole Bookrunner, and various financial institutions named therein as lenders. The Term Loan Agreement provides for a term loan facility in the aggregate principal amount of €760.0 million (the “Term Loan Facility”).

View on SEC.gov

101 debt financings filed in the last 30 days. Browse all debt financings →

NORDSON CORP filing history →

Source: SEC EDGAR

accession 0000072331-23-000150

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