nVent Electric completes $600 million senior unsecured term loan facility for Maverick Power deal
Bitget2026/09/29 20:16- nVent Electric completed an USD 800 million offering of Hoffman Schroff 6.150% Senior Notes due 2036, guaranteed by nVent Electric, nVent Finance.
- Proceeds earmarked for the USD 1.75 billion Maverick Power acquisition, alongside a USD 600 million senior unsecured term loan facility.
- Credit agreement amended to permit limited conditionality draws of up to USD 250 million under a specified revolving facility.
- Notes carry a special mandatory redemption at 101% if the Maverick Power acquisition fails to close by Nov. 20, 2026.
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