Loan & DebtMay 15, 2026, 04:49 PM
Novanta Secures $200M Delayed Draw Term Loan Commitments
AI Summary
Novanta Inc. entered into a Second Amendment to its Fourth Amended and Restated Credit Agreement, establishing $200.0 million in delayed draw term loan commitments. These commitments will be available for borrowing for up to six months and will mature on June 27, 2030. The amendment also adjusts interest rates based on the company's leverage ratio and resets incremental capacity for term loan and revolving commitments.
Key Highlights
- Novanta Inc. secured $200.0 million in delayed draw term loan commitments.
- The 2026 Delayed Draw Term Loan Commitments are available for borrowing for up to six months.
- The Delayed Draw Term Loans will mature on June 27, 2030.
- Interest rates range from Base Rate + 0.00%-0.75% or SOFR/SONIA/EURIBOR + 1.00%-1.75%.
- The company is obligated to pay a commitment fee on the undrawn commitments.
- Quarterly amortization payments start around September 25, 2026, at 0.625% initially.
- Amortization rate increases to 1.25% of the principal amount after June 25, 2027.
- The amendment resets term loan and revolving commitment incremental capacity.
Price Impact
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