Vertiv Holdings Co (NYSE: VRT) Enters Into Ninth Amendment to Revolving Credit Agreement

Vertiv Holdings Co, a Delaware corporation, announced on November 12, 2024, that it has entered into Amendment No. 9 to the Revolving Credit Agreement. The agreement was signed by Vertiv Group Corporation, Vertiv Intermediate Holding II Corporation, and certain subsidiaries as borrowers and guarantors, with JPMorgan Chase Bank, N.A., as the Administrative Agent, and other lenders.

Among the modifications outlined in the Ninth Amendment, the revolving loan commitments under the U.S. tranche of the ABL revolving credit facility were increased by $200.0 million, bringing the total loan commitment under that tranche to $737.0 million. Additionally, the swingline commitment saw an increase from $100 million to $125 million, and certain thresholds for obligations under the credit agreement were adjusted. The Lead Borrower now has the option to request an increase of the ABL revolving commitments under any subfacility, up to an aggregate amount not exceeding $200.0 million, subject to specific conditions and lender commitments.

The amendments made in the Ninth Amendment do not affect the non-U.S. tranches of the ABL revolving credit facility. Furthermore, modifications were made to the inspection and credit appraisal rights of the Administrative Agent under the Credit Agreement. All other major provisions of the Credit Agreement remain materially unchanged. As of September 30, 2024, there was no principal amount outstanding under the Credit Agreement.

It is important to note that the terms of the Credit Parties’ obligations under the long-term credit facility and secured notes remain unaffected by the Ninth Amendment. Vertiv Holdings Co advises that the description provided in the Ninth Amendment is not exhaustive and is subject to the detailed provisions outlined in the actual agreement, which can be found in Exhibit 10.1(a).

This information was disclosed in a Form 8-K filing with the Securities and Exchange Commission. The filing also incorporated details regarding the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vertiv’s 8K filing here.

About Vertiv

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.