nVent prices $800M senior notes offering to fund Maverick deal

nVent Electric plc's Hoffman Schroff Holdings subsidiary has priced an $800 million senior notes offering, revealing interest rates of 6.150% with a maturity date of 2036. The offering, which is expected to close on September 29, will be guaranteed by nVent and its subsidiary nVent Finance S.à r.l. The proceeds from this offering will be utilized in conjunction with a $600 million term loan facility and up to $250 million from an amended revolving credit facility to finance the acquisition of Maverick Power, LLC for $1.75 billion.

The offering is not contingent on the acquisition's closure, which must occur by November 20, 2026, or by an extension date no later than February 19, 2027, at which point the company must redeem all outstanding notes at 101% of principal plus accrued interest. BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities are serving as joint lead active book-running managers for the offering.

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