Lincoln Electric issues $550M in senior notes, enters $1B revolver; refinances term loan

LINCOLN ELECTRIC HOLDINGS INC

Issued $75M Series A at 5.55% due 2029, $75M Series B at 5.62% due 2031, $400M Series C at 5.74% due 2034.
Proceeds used to repay $400M term loan and for general corporate purposes; existing revolver terminated.
New $1B revolving credit facility with SOFR+1.10%-1.60% spread, maturing June 2029, no borrowings outstanding.
Total debt $1.25B, weighted avg interest rate 4.08%, avg tenor 9.5 years; FY2024 interest expense expected steady.

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