Vertiv closes $2.1 billion senior notes and $2.5 billion revolving credit facility

Vertiv completed a $2.1 billion senior unsecured bond sale in four tranches maturing in 10 to 40 years, its debut offering with an investment-grade rating. Net proceeds of $2.08 billion, plus cash on hand, repaid the secured term loan in full. A new five-year, $2.5 billion senior unsecured revolver replaced the prior $800 million asset-based facility.

• Notes: $2.1B in four tranches, 10- to 40-year maturities
• Net proceeds $2.08B; secured term loan repaid in full
• Revolver: $2.5B, five years, replaces $800M ABL
• Ratings: Baa3 (Moody's), BBB- (S&P and Fitch)