nVent Electric Plc Prices $800 Million Senior Notes Offering
News related to:nVent Electric plc · 1 min read
LONDON, Sept. 15, 2026 /CourierPR/ -- nVent Electric plc, a global leader in electrical connection and protection solutions, has announced the pricing of a $800 million senior notes offering. Hoffman Schroff Holdings, Inc., an indirect wholly-owned subsidiary of nVent, will issue the 6.150% senior notes due 2036. The notes will be fully and unconditionally guaranteed by nVent and nVent Finance S.à r.l., another wholly-owned subsidiary of nVent.
The offering is expected to close on September 29, 2026, subject to customary closing conditions. Concurrently, nVent and its subsidiaries plan to enter into a new term loan credit agreement, providing for a senior unsecured delayed draw term loan facility of $600 million with a three-year maturity. Additionally, they intend to amend their existing revolving credit facility to allow limited conditionality draws of up to $250 million.
The proceeds from the offering, along with borrowings under the new term loan facility and the specified revolving facility, will be used to finance the acquisition of Maverick Power, LLC, for $1.75 billion, as well as to cover related fees and expenses. If the acquisition does not close by November 20, 2026, or a later date by mutual agreement, Hoffman Schroff will be required to redeem the notes at 101% of the principal amount, plus accrued and unpaid interest.
BofA Securities, Inc., Citigroup Global Markets Inc., and J.P. Morgan Securities LLC are the joint lead active book-running managers for the offering. The offering is being made through a prospectus supplement and accompanying prospectus, which can be obtained by contacting the respective book-running managers or from the Securities and Exchange Commission’s website.
The company intends to use the remainder of the net proceeds, if any, for general corporate purposes. nVent Electric plc, a leading provider of electrical connection and protection solutions, aims to leverage this financing to support its strategic growth initiatives and further expand its market presence.