nVent Electric PLC subsidiary Hoffman Schroff Holdings priced a $800 million public offering of senior notes. The notes carry a 6.150% interest rate. These senior notes will mature in 2036. The offering expects to close on September 29, 2026.
Proceeds will support the $1.75 billion acquisition of Maverick Power. Maverick Power manufactures power infrastructure for data centers.
The total financing package includes a new $600 million term loan. nVent will also utilize $250 million from a revolving credit facility.
The notes offering remains independent of the acquisition's completion. nVent must redeem the notes at a premium if the deal fails to close by a specified date.