nVent Electric (NVT) Prices $500M Notes Offering

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Go back to nVent Electric (NVT) Prices $500M Notes Offering

nVent Prices $500.0 Million Senior Notes Offering

April 24, 2023 4:37 PM EDT

LONDON--(BUSINESS WIRE)-- nVent Electric plc (NYSE: NVT) (nVent) today announced that nVent Finance S.à r.l. (nVent Finance), a wholly-owned subsidiary of nVent, priced a public offering of $500.0 million of 5.650% senior notes due 2033. The notes will be fully and unconditionally guaranteed as to payment of principal and interest by nVent. The offering is expected to close on May 3, 2023, subject to customary closing conditions.

nVent Finance and nVent intend to enter into a new loan agreement with a syndicate of financial institutions in April 2023, pursuant to which such financial institutions will commit to... More