West Pharmaceutical replaces 2019 credit facility with new $750M revolver and $200M term loan

WEST PHARMACEUTICAL SERVICES INC

New $750M revolver and $200M term loan under a five-year credit agreement dated Oct 26, 2026; $130M outstanding under the 2019 facility repaid in full and terminated, no early termination penalties.
Term loan has quarterly amortization starting March 31, 2028 of $1.25M-$2.5M, balance due at maturity; sublimits of $50M for letters of credit and $90M for swing line loans.
Pricing scales with Net Leverage Ratio: term SOFR margin 1.000%-1.500% on revolver loans, 1.125%-1.750% on term loans; commitment fee 0.125%-0.225% on unused revolver.
Covenant caps Net Leverage Ratio at 3.50x, stepping to 4.00x during material acquisition periods; borrowings unsecured with no subsidiary guarantors as of closing.
Proceeds earmarked for working capital, capex, permitted acquisitions, stock repurchases and debt repayment; optional currencies include euros, yen and Singapore dollars.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.