FAQ: Hillenbrand's Note Redemption and Credit Agreement Amendments
Summary
What has Hillenbrand announced regarding its notes and credit agreements?
Hillenbrand announced the redemption in full of its $375 million, 4.500% notes due September 2026 and the successful amendment and extension of its syndicated credit agreement, including a $700 million revolving credit facility, a $175 million term loan, and a Euro-denominated delayed-draw term loan of up to €240 million.
Why is Hillenbrand redeeming its notes and amending its credit agreements?
The redemption and amendments are aimed at optimizing the Company’s capital structure, allowing for greater operational and financial flexibility.
Who are the administrative agents under Hillenbrand’s amended syndicated credit agreement?
JPMorgan Chase Bank, N.A. and J.P. Morgan SE serve as administrative agents under the amended and restated syndicated credit agreement.
What is the role of Commerzbank Aktiengesellschaft in Hillenbrand’s credit agreements?
Commerzbank Aktiengesellschaft serves as coordinator, lead arranger, bookrunner, and agent under the amended L/G facility agreement.
When are the notes due that Hillenbrand is redeeming?
The notes are due September 2026.
What is the total amount of the revolving credit facility included in the amended credit agreement?
The amended credit agreement includes a $700 million revolving credit facility.
How does the redemption and amendment of credit agreements benefit Hillenbrand?
These actions mark a significant step in optimizing the Company’s capital structure, providing greater operational and financial flexibility.
Where can I find more information about Hillenbrand?
More information can be found on Hillenbrand’s website at www.Hillenbrand.com.
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