ESAB enters $1.4B credit facility, repays existing debt, extends maturity to 2030

ESAB Corp

New $350M term loan A facility and $1.05B revolving credit facility, each maturing Oct 16, 2030.
Proceeds used to repay existing $400M term loan and $750M revolver; replaces prior credit agreement.
Pricing based on Total Leverage Ratio: initial SOFR spread 1.250% (Pricing Level 3); commitment fee 0.175%.
Financial covenants: max Total Leverage Ratio 3.50:1.00; min Interest Coverage Ratio 3.00:1.00.
Facilities include $50M swingline sub-facility; swingline loans bear interest at base rate plus margin.

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