nVent Electric enters $875M senior unsecured credit facilities, repays prior debt

nVent Electric plc

Five-year $275M term loan and $600M revolving credit facility; matures June 30, 2030.
Proceeds used to repay amounts outstanding under April 2023 and June 2024 credit agreements.
Covenants: max net leverage ratio 3.75:1 (4.25:1 post-acquisition); min interest coverage 3.00:1.
Option to increase facilities by up to $300M subject to customary conditions.
Borrowers include nVent Electric, nVent Finance S.à r.l., and Hoffman Schroff Holdings.

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