Vertiv Holdings Co.
Vertiv Announces Successful Completion of Term Loan Repricing
Summary
Vertiv Holdings Co (NYSE: VRT) announced the completion of the repricing of Vertiv Group Corporation's existing seven-year $2.1 billion Term Loan, reducing interest rates by 25 basis points to Term SOFR + 1.75%, resulting in interest savings of approximately $5 million per year. The amendment to the Term Loan Credit Agreement was made with Citibank, N.A., as the administrative agent. This repricing is expected to improve the company's financial efficiency.
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Exhibits (2)
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About Vertiv Holdings Co.
Vertiv Holdings Co. is a prominent player in the field of digital infrastructure, focusing on designing, building, and servicing critical data center systems. The company's primary function is to provide essential continuity solutions that support the IT industry, ensuring the stability and efficient operation of networks and communication platforms worldwide. Notable features of Vertiv Holdings include its comprehensive product range, which includes power management systems, thermal management solutions, and IT management tools. It also offers services such as on-site support and management software that help maintain optimal performance and reliability. Vertiv Holdings caters to industries such as telecommunications, cloud computing, and co-location, impacting sectors that depend heavily on stable and efficient data center operations. In the financial markets, Vertiv Holdings plays a significant role by supporting the backbone of digital transformation and enabling the seamless operation of businesses that rely on high availability and data integrity.
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