nVent Completes $800 Million Senior Notes Offering to Fund Maverick Power Acquisition

nVent Electric plc, through its subsidiary Hoffman Schroff Holdings, Inc., completed a public offering of $800.0 million in senior notes. The proceeds are intended to help finance the previously announced acquisition of Maverick Power, LLC for approximately $1.75 billion.

Key Details

• Offering: $800.0 million aggregate principal amount of 6.150% Senior Notes due 2036.
• Use of Proceeds: The notes, along with a new $600.0 million term loan, $250.0 million in revolving facility borrowings, and cash on hand, will fund the acquisition of Maverick Power, LLC for approximately $1.75 billion and related fees.
• Contingency: The notes are subject to a special mandatory redemption at 101% of the principal amount if the acquisition does not close by November 20, 2026 (subject to extension).