secwatch.observer — SEC 8-K summary
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Issuer:     PENTAIR plc (PNR)
CIK:        0000077360
Form:       8-K
Filed at:   2022-03-25T23:59:59+00:00
Accession:  0001104659-22-038083
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pentair enters $600M term loan facility to partially fund Manitowoc Ice acquisition
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- $600M senior unsecured term loan facility arranged; no loans drawn as of March 24, 2022.
- Facility matures 5 years from draw; amortization: 0% year 1, 2.5% year 2, 5% thereafter.
- Covenants: leverage < 3.75x net debt/EBITDA (4.25x for acquisitions) and interest coverage > 3.0x.
- Loans conditioned on closing of $1.6B Manitowoc Ice acquisition and other standard conditions.
- Pentair Finance is borrower; Pentair plc guarantees the facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/77360/000110465922038083/0001104659-22-038083-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/77360/000110465922038083/tm2210380d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-038083

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