Envista Holdings Corp (NVST): debt financing — Envista refinances with $530M USD and €350M EUR term loans; revolver $750M thru Aug 2028

Envista Holdings Corp

Second amended credit agreement signed Aug 31, 2023; matures Aug 31, 2028 with springing maturity tied to convertible notes.
Incurred USD term loan $530M and EUR term loan €350M; revolving commitments $750M.
Proceeds used to refinance existing credit agreement and for general corporate purposes.
Spread adjustment for Term SOFR loans set at flat 10 bps; other interest rates unchanged.
Approximately $4.7M in fees paid in connection with the agreement.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Envista Holdings Corp incurred term loan of $530,000,000 with Bank of America, N.A. at Term SOFR based loans with a spread adjustment of 10 bps maturing August 31, 2028.

Instrument: term loan
Principal: $530,000,000
Counterparty: Bank of America, N.A.
Rate: Term SOFR based loans with a spread adjustment of 10 bps
Maturity: August 31, 2028
Event: incurrence

Exact text from the filing

1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On August 31, 2023, Envista Holdings Corporation (the “Company”) entered into a second amended and restated credit agreement (the “Second Amended Credit Agreement”) with a syndicate of banks including Bank of America, N.A. as administrative agent (the “Administrative Agent”). The Second Amended Credit Agreement amends and restates the Company’s existing amended and restated credit agreement, dated June 15, 2021 (the “Existing Credit Agreement”).

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Envista Holdings Corp incurred revolving credit of $750,000,000 with Bank of America, N.A. at Term SOFR based loans with a spread adjustment of 10 bps maturing August 31, 2028.

Instrument: revolving credit
Principal: $750,000,000
Counterparty: Bank of America, N.A.
Rate: Term SOFR based loans with a spread adjustment of 10 bps
Maturity: August 31, 2028
Event: incurrence

Exact text from the filing

the Company obtained Revolving Credit Commitments in an aggregate amount of $750,000,000

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Envista Holdings Corp incurred term loan of €350,000,000 with Bank of America, N.A. at Term SOFR based loans with a spread adjustment of 10 bps maturing August 31, 2028.

Instrument: term loan
Principal: €350,000,000
Counterparty: Bank of America, N.A.
Rate: Term SOFR based loans with a spread adjustment of 10 bps
Maturity: August 31, 2028
Event: incurrence

Exact text from the filing

1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT On August 31, 2023, Envista Holdings Corporation (the “Company”) entered into a second amended and restated credit agreement (the “Second Amended Credit Agreement”) with a syndicate of banks including Bank of America, N.A. as administrative agent (the “Administrative Agent”). The Second Amended Credit Agreement amends and restates the Company’s existing amended and restated credit agreement, dated June 15, 2021 (the “Existing Credit Agreement”).

View on SEC.gov

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Envista Holdings Corp filing history →

Source: SEC EDGAR

accession 0001757073-23-000063

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