Mettler-Toledo upsizes credit facility to $1.35B, extends maturity to 2029

METTLER TOLEDO INTERNATIONAL INC/

Revolving credit facility increased from $1.25B to $1.35B; maturity extended to 2029 with option for two-year extension.
Interest rate: SOFR plus 0.10% credit spread adjustment plus margin of 0.875%-1.15% based on net leverage ratio; current margin 0.975%.
Covenants: max net leverage ratio 3.5x (4.0x after large acquisition), min interest coverage ratio 3.0x.
Subsidiary Mettler-Toledo Limited removed as borrower; new borrowers added include Mettler-Toledo Holding AG and three others.
Two departing lenders (Bank of Nova Scotia, BNP Paribas) and two new lenders (HSBC, Bank of China) join facility.

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