SPX Technologies closes $2.025B senior secured credit facility refinancing, maturing 2030

SPX Technologies, Inc.

New facility includes $500M term loan, $1.5B revolver, and $25M foreign credit instrument facility.
Maturity date extended to September 9, 2030; proceeds used to repay existing credit agreement debt.
Interest rate margins based on consolidated leverage ratio; range from 1.25% to 1.75% for Term SOFR loans.
Financial covenants: interest coverage ratio >=3.00x, leverage ratio <=3.75x (4.25x post-acquisition).
Facility is secured by first-priority pledge of domestic subsidiary stock and 65% of foreign subsidiary stock.

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