Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
HUBBELL INC incurred term loan of $600 million with JPMorgan Chase Bank, N.A., as administrative agent at Adjusted Term SOFR Rate plus an applicable margin based on Hubbell’s credit rati maturing December 8, 2026.
- Instrument
- term loan
- Principal
- $600 million
- Counterparty
- JPMorgan Chase Bank, N.A., as administrative agent
- Rate
- Adjusted Term SOFR Rate plus an applicable margin based on Hubbell’s credit rati
- Maturity
- December 8, 2026
- Event
- incurrence
Exact text from the filing
On the Acquisition Closing Date, Hubbell borrowed $600 million under the Term Loan Agreement (the “Loans”) to pay a portion of the Purchase Price. The Loans were made in a single borrowing and will be due and payable on December 8, 2026. The Loans bear interest based on the Adjusted Term SOFR Rate (as defined in the Term Loan Agreement), plus an applicable margin based on Hubbell’s credit ratings.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.99
HUBBELL INC entered into Term Loan Agreement with JPMorgan Chase Bank, N.A. valued at $600 million unsecured term loan facility (effective 2023-12-08).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- JPMorgan Chase Bank, N.A.
- Value
- $600 million unsecured term loan facility
- Effective
- 2023-12-08
Exact text from the filing
On December 8, 2023, Hubbell, as borrower, entered into a Term Loan Agreement (the “Term Loan Agreement”) with a syndicate of lenders and JPMorgan Chase Bank, N.A., as administrative agent.
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