Nordson enters into $1.15 million facility in two tranches

By Wendy Van Sickle

Columbus, Ohio, June 6 – Nordson Corp. and its subsidiary Nordson Engineering GmbH entered into a credit agreement with Wells Fargo Bank, NA as administrative agent on June 6 that provides for a $300 million three-year term loan and an $850 million five-year revolving facility, according to an 8-K filing with the Securities and Exchange Commission.

The term loan was borrowed in full on the closing date and matures on June 6, 2026; the revolver matures on June 6, 2028 and includes a $75 million sub-facility for swingline loans.

The revolver permits borrowings in U.S. dollars, euros, pounds sterling, Swiss francs, Singapore dollars, yen and other approved currency.

Wells Fargo Securities, LLC, BofA Securities, Inc., JPMorgan Chase Bank, NA, PNC Capital Markets LLC and U.S. Bank NA are the lead arrangers and bookrunners.

Bank of America, NA, JPMorgan, PNC Bank, NA and U.S. Bank are the co-documentation agents.

Citibank, NA, HSBC Bank USA, NA, Morgan Stanley Senior Funding, Inc., TD Bank, NA, Huntington National Bank, Truist Bank and Deutsche Bank Securities Inc. are the senior managing agents.

Borrowings will bear interest at SOFR or a eurocurrency rate plus a margin ranging from 85 basis points to 120 bps, depending on the company’s leverage ratio. The revolver’s facility fee ranges from 10 bps to 17.5 bps, depending on leverage ratio.

Covenants include a leverage ratio and an interest coverage ratio.

Proceeds may be used for general corporate purposes.

Nordson is a Westlake, Ohio-based manufacturer and marketer of differentiated products and systems used for dispensing adhesives, coatings, sealants, biomaterials and other materials, fluid management, test and inspection, UV curing and plasma surface treatment.

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