Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Vertiv Holdings Co amended term loan with Citibank, N.A. at SOFR-based interest rate.
- Instrument
- term loan
- Counterparty
- Citibank, N.A.
- Rate
- SOFR-based interest rate
- Event
- amendment
Exact text from the filing
Pursuant to the Amendment, the interest rate under the Credit Agreement transitions, effective July 1, 2023, from the London Interbank Offered Rate (LIBOR) available for borrowings under the credit agreement and related LIBOR-based mechanics to an interest rate based on the Secured Overnight Financing Rate (SOFR) and related SOFR-based mechanics.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
Vertiv Holdings Co amended Amendment No. 2 to Term Loan Credit Agreement with Citibank, N.A. valued at Interest rate transitions from LIBOR to SOFR effective July 1, 2023 (effective 2023-06-22).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Citibank, N.A.
- Value
- Interest rate transitions from LIBOR to SOFR effective July 1, 2023
- Effective
- 2023-06-22
Exact text from the filing
On June 22, 2023, Citibank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) entered into an Amendment no. 2 to Term Loan Credit Agreement (the “Amendment”), which amends that certain Term Loan Credit Agreement, dated as of March 2, 2020 (as amended by the Amendment No. 1 to Credit Agreement, dated as of March 10, 2021, and as amended by the Amendment, the “Credit Agreement”) by and among Vertiv Group Corporation, a Delaware corporation (“Borrower”) and an indirect wholly-owned subsidiary of Vertiv Holdings Co (the “Company”), Vertiv Intermediate Holding II Corporation, a Delaware corporation, as holdings and the direct parent of Borrower, the Administrative Agent and the several banks and other financial institutions or entities from time to time party thereto.
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