Acuity Brands secures $600M delayed draw term loan for QSC acquisition

ACUITY INC. (DE)

Entered Amendment No. 1 to credit agreement adding up to $600M delayed draw term loan facility.
Full $600M expected to be drawn to fund acquisition of QSC, LLC by subsidiary Acuity Brands Technology Services, Inc.
Term loan matures June 30, 2027; interest rate SOFR plus margin of 0.875% to 1.375%.
Undrawn commitments accrue commitment fee from Feb 24, 2025 at 0.075%–0.175% per annum.
Covenants and events of default from revolving credit apply; facility guaranteed by company and subsidiaries.

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