ESAB Corp (ESAB): debt financing — ESAB issues $700M of 6.25% senior notes due 2029 to repay Term Loan A-3

ESAB Corp

$700M aggregate principal, 6.25% interest semi-annual, matures April 15, 2029.
Net proceeds used to repay all outstanding Term Loan A-3 Facility borrowings.
Redeemable at par plus make-whole before April 15, 2026; 40% equity clawback at 106.25%.
Change-of-control put at 101% of principal plus accrued interest.
Covenants limit additional debt, liens, asset sales, and require guarantee by domestic subsidiaries.

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

ESAB Corp incurred senior notes of $700 million with U.S. Bank Trust Company, National Association at 6.25% maturing April 15, 2029.

Instrument: senior notes
Principal: $700 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.25%
Maturity: April 15, 2029
Event: incurrence

Exact text from the filing

On April 9, 2024, ESAB Corporation, a Delaware corporation (the “Company”), issued $700 million in aggregate principal amount of 6.25% senior notes due 2029 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ESAB Corp entered into Indenture with U.S. Bank Trust Company, National Association valued at $700 million (effective 2024-04-09).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $700 million
Effective: 2024-04-09

Exact text from the filing

On April 9, 2024, ESAB Corporation, a Delaware corporation (the “Company”), issued $700 million in aggregate principal amount of 6.25% senior notes due 2029 (the “Notes”). The Notes were issued pursuant to an indenture, dated as of April 9, 2024 (the “Indenture”), by and among the Company, the Guarantors (as defined below) and U.S. Bank Trust Company, National Association (the “Trustee”).

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299 debt financings filed in the last 30 days. Browse all debt financings →

ESAB Corp filing history →

Source: SEC EDGAR

accession 0001628280-24-015484

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