IDEX CORP /DE/ (IEX): debt financing — IDEX amends credit agreement to $800M revolver, adds $200M term loan for Muon acquisition

IDEX CORP /DE/

Revolving credit facility increased to $800M with maturity extended to November 1, 2027.
New $200M term loan facility available until March 3, 2023, to fund portion of Muon Group B.V. acquisition.
Up to $100M letters of credit and $50M swing line loans; option to increase commitments by up to $400M.
Interest based on base rate or Term SOFR plus margin tied to debt rating/leverage ratio; ESG pricing adjustment possible.
Financial covenants include interest coverage and leverage ratios, tested quarterly.

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

IDEX CORP /DE/ incurred term loan of $200 million with same as above at alternate base rate or Term SOFR rate (or appropriate alternative currency refer maturing November 1, 2027.

Instrument: term loan
Principal: $200 million
Counterparty: same as above
Rate: alternate base rate or Term SOFR rate (or appropriate alternative currency refer
Maturity: November 1, 2027
Event: incurrence

Exact text from the filing

The Credit Agreement further consists of a term credit facility (the “Term Facility”) available to the Company in an aggregate principal amount of $200 million with a final maturity date of November 1, 2027.

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

IDEX CORP /DE/ incurred revolving credit of $800 million with Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit; JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association, as co-syndication agents and issuers of letters of credit; HSBC Bank USA, National Association, Mizuho Bank, Ltd., PNC Bank, Nat at alternate base rate or Term SOFR rate (or appropriate alternative currency refer maturing November 1, 2027.

Instrument: revolving credit
Principal: $800 million
Counterparty: Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit; JPMorgan Chase Bank, N.A. and Wells Fargo Bank, National Association, as co-syndication agents and issuers of letters of credit; HSBC Bank USA, National Association, Mizuho Bank, Ltd., PNC Bank, Nat
Rate: alternate base rate or Term SOFR rate (or appropriate alternative currency refer
Maturity: November 1, 2027
Event: incurrence

Exact text from the filing

lenders and financial institutions party thereto. The Credit Agreement consists of a revolving credit facility (the “Revolving Facility”) in an aggregate principal amount of $800 million with a final maturity date of November 1, 2027 which is extended from the May 30, 2024 final maturity date of the Original Credit Agreement. The maturity date may be further

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

IDEX CORP /DE/ amended Credit Agreement with Bank of America, N.A., JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, HSBC Bank USA, National Association, Mizuho Bank, Ltd., PNC Bank, National Association, U.S. Bank, National Association valued at $800 million (effective 2022-11-01).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, HSBC Bank USA, National Association, Mizuho Bank, Ltd., PNC Bank, National Association, U.S. Bank, National Association
Value: $800 million
Effective: 2022-11-01

Exact text from the filing

On November 1, 2022, IDEX Corporation (the “Company”) amended and restated that certain Credit Agreement, dated as of May 31, 2019 (the “Original Credit Agreement” and, as amended and restated, the “Credit Agreement”)

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

IDEX CORP /DE/ filing history →

Source: SEC EDGAR

accession 0000832101-22-000059

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