Hubbell Inc.
Hubbell Inc Enters into $1.0 Billion Credit Facility
Summary
Hubbell Incorporated has entered into a $1.0 billion unsecured revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent. This facility replaces the company's existing credit agreement and includes the option to increase commitments up to $1.5 billion. The credit facility includes a $50.0 million sub-limit for letters of credit and will be used for general corporate purposes, including commercial paper issuance. It contains customary representations, warranties, covenants, and financial covenants, with an event of default that may be triggered by various failures or a change of control. The facility will mature on March 25, 2030, with the option for up to two one-year extensions.
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About Hubbell Inc.
Hubbell Inc. is a prominent manufacturer of electrical and electronic products globally. The company primarily focuses on designing, manufacturing, and selling quality electrical and utility solutions that play a crucial role in improving overall infrastructure efficiency and safety. Hubbell's extensive product range includes lighting fixtures, wiring devices, power distribution units, and other electrical components vital for residential, commercial, and industrial applications. Serving sectors like construction, energy, utility, and telecommunications, its products facilitate essential electrical and power connections and controls across various infrastructure projects. Founded in 1888, Hubbell has a rich history of innovation and adaptability, positioning itself as a significant player in enhancing operational reliability and connectivity in the markets it serves. With a commitment to meeting the evolving needs of a forward-moving society, Hubbell Inc. continues to influence the development and modernization of critical infrastructure systems around the world, underscoring its importance in the global market.
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