SPX Technologies, Inc. (SPXC): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SPX Technologies, Inc. amended credit facility of $2.025 billion with Bank of America, N.A. at Term SOFR rate plus an applicable margin maturing September 9, 2030.

Instrument: credit facility
Principal: $2.025 billion
Counterparty: Bank of America, N.A.
Rate: Term SOFR rate plus an applicable margin
Maturity: September 9, 2030
Event: amendment

Exact text from the filing

Bank AG, as foreign trade facility agent, and the Administrative Agent. The Amended Credit Agreement provides for committed senior secured financing in the aggregate amount of $2.025 billion, consisting of the following facilities (collectively, the “Senior Credit Facilities”), each with a final maturity of September 9, 2030: · A term loan facility in the aggregate

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SPX Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001410578-25-002044

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