Loan & DebtMay 6, 2026, 04:09 PM
Pentair Amends Credit Agreement, Adds $500M Term Loan Facility
AI Summary
Pentair plc and its subsidiaries, Pentair Finance S.à r.l. and Pentair, Inc., amended their Second Amended and Restated Credit Agreement on May 5, 2026. This amendment introduces a new $500 million Term Loan Facility, which refinances and replaces the term loans outstanding under a previous Loan Agreement. As a result, the prior Loan Agreement was fully prepaid and terminated. Following these transactions, the company has $500 million in term loans and $628.6 million in revolving loans outstanding under the Senior Credit Facilities, which mature on May 5, 2030.
Key Highlights
- Amendment No. 1 to Second Amended and Restated Credit Agreement effective May 5, 2026.
- Added a new Term Loan Facility with an initial principal amount of $500 million.
- Refinances and replaces term loans from a Loan Agreement dated March 24, 2022.
- Total term loans outstanding under the new facility are $500 million.
- Total revolving loans outstanding are $628.6 million under a $900 million facility.
- Senior Credit Facilities mature on May 5, 2030.
- Term Loan Facility amortizes quarterly starting June 30, 2027.
- Financial covenants include a consolidated debt to EBITDA ratio not exceeding 3.75 to 1.00.