Nordson signs $500.0 million term loan to help fund Atrion acquisition
Nordson entered a $500.0 million 364-day delayed draw term loan on June 21, 2024, and a $72.5 million increase to its revolving credit commitments, which brings the revolving facility to $922.5 million. The company plans to use the term loan proceeds in part to fund its previously announced acquisition of Atrion Corporation, so the filing adds debt tied to that deal.
- Term Loan Facility: $500.0 million, delayed draw, senior unsecured, matures 364 days after the closing date, which is tied to the Atrion acquisition closing.
- Revolving Credit Facility: aggregate commitments increased by $72.5 million to $922.5 million under an Incremental Amendment dated June 21, 2024.
- Loans bear interest at a base rate or SOFR plus a margin based on Nordson's leverage ratio; covenants include a leverage ratio and an interest coverage ratio.
- Acquisition of Atrion was agreed on May 28, 2024, under a merger agreement in which Atrion becomes a wholly owned subsidiary.