Novanta enters $1.0 billion credit agreement maturing June 2030, replacing 2019 facility
Novanta signed a Fourth Amended and Restated Credit Agreement dated June 27, 2025, replacing its existing facility, which was scheduled to mature in March 2027 and had $392.4 million outstanding as of March 28, 2025. The new facility totals about $1.0 billion, including an $850.0 million revolver, and matures in June 2030, with secured borrowings and financial maintenance covenants.
Key points
- Facility totals approximately $1.0 billion: €65.31 million euro term loan, $75.0 million U.S. dollar term loan, and $850.0 million revolving credit facility
- Senior Credit Facilities mature in June 2030; term loans begin quarterly principal repayments in September 2025 (euro) or September 2026 (U.S. dollar)
- Covenants require minimum fixed charge coverage ratio of 1.25:1.00 and maximum leverage ratio of 3.50:1.00, with a step up to 4.00:1.00 after qualifying acquisitions of $50.0 million or more
- Uncommitted accordion feature allows commitments to increase by up to an additional $350.0 million, subject to customary conditions
The filing
Written by AI on Nov 8, 2026, 1:05 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 02, 2025.
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