nVent Electric completes $800 million senior notes offering to fund Maverick Power acquisition

nVent Electric plc has successfully completed an $800 million senior notes offering to fund the acquisition of Maverick Power, LLC for approximately $1.75 billion. The notes, issued by Hoffman Schroff Holdings, Inc. and guaranteed by nVent Electric and nVent Finance S.à r.l., carry a 6.150% interest rate with semi-annual payments beginning in 2027.

The notes are redeemable before maturity under certain conditions, including a change of control triggering event, tax changes, or if the acquisition is not completed by a specified date. Proceeds from the offering, along with funds from existing debt facilities, will be used to finance the acquisition and cover related fees and expenses.

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