nVent closes $800 million 6.150% senior notes due 2036 to fund $1.75 billion Maverick Power acquisition

nVent Electric plc

Hoffman Schroff Holdings issued $800.0 million of 6.150% senior notes due 2036, fully guaranteed by nVent Electric plc and nVent Finance S.à r.l.
Interest is payable semi-annually on March 15 and September 15 beginning March 15, 2027; the notes mature September 15, 2036.
Proceeds, plus a $600.0 million term loan facility and $250.0 million specified revolving facility, fund the $1.75 billion Maverick Power acquisition.
Notes must be redeemed at 101% if the Maverick Power deal does not close by the Nov 20, 2026 outside date or the Purchase Agreement is terminated.
Hoffman Schroff may redeem at a make-whole price before June 15, 2036, at par plus accrued interest after, and must offer 101% on a change of control.

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