nVent Electric Expands Credit Agreement to $875 Million with New Borrower Guarantees

Reuters
Feb 17
nVent Electric Expands Credit Agreement to $875 Million with New Borrower Guarantees

nVent Electric plc has amended its existing credit agreement, allowing its subsidiary Hoffman Schroff Holdings, Inc. to become a primary borrower alongside nVent Finance S.à r.l. The amended agreement, which involves a syndicate of banks, provides for up to $875 million in revolving credit, term credit, and other financing. Both nVent Finance and Hoffman will now cross-guarantee each other's obligations, with nVent Electric plc continuing to guarantee both subsidiaries' obligations.

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