nVent enters $600M term loan facility to finance Maverick Power acquisition

nVent Electric plc

On Sept 17, 2026, nVent, nVent Finance and Hoffman signed a $600.0M senior unsecured term loan facility.
Facility will fund part of the $1.75B acquisition of Maverick Power and related fees and expenses.
Ticking fees of 0.10%-0.20% on undrawn commitments accrue from Dec 19, 2026 based on leverage/rating.
Financial covenants: max leverage 3.75:1 (or 4.25:1 for acquisitions) and min interest coverage 3.00:1.
Credit agreement amended to add $250.0M sublimit for acquisition; total facility remains $875.0M.

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