Hubbell signs $900M term loan agreement to finance NSI Acquisition

HUBBELL INC

Unsecured term loan of up to $900M to fund the NSI stock purchase, repay NSI debt, and pay fees.
Loan available in a single draw on NSI closing date; matures 3 years from that date.
Interest based on Term SOFR plus spread (0.50%-1.125%) or ABR plus spread (0.00%-0.125%), tied to credit ratings.
Financial covenant requires total debt to total capitalization ≤ 65% as of each fiscal quarter-end.
Closing of NSI Acquisition is a condition to borrowing; JPMorgan Chase acts as administrative agent.

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