Hillenbrand has announced the full redemption of its $375 million, 4.500% notes due September 2026, alongside the amendment and extension of its syndicated credit agreement. This strategic move includes a $700 million revolving credit facility, a $175 million term loan, and a Euro-denominated delayed-draw term loan of up to €240 million. JPMorgan Chase Bank, N.A. and J.P. Morgan SE are serving as the administrative agents under the amended agreement. Additionally, the company has amended its €325 million L/G facility agreement, with Commerzbank Aktiengesellschaft acting as coordinator, lead arranger, bookrunner, and agent.
These financial maneuvers are pivotal for Hillenbrand, as they significantly optimize the company’s capital structure. By redeeming the notes and amending the credit agreements, Hillenbrand is positioning itself for greater operational and financial flexibility. This is crucial for the company’s ability to navigate the complexities of global industrial markets and continue providing mission-critical processing equipment and solutions worldwide.
The redemption and amendments reflect Hillenbrand’s strategic approach to financial management, ensuring it remains competitive and resilient in the face of evolving market demands. This development is particularly important for stakeholders, as it underscores the company’s commitment to maintaining a robust financial foundation while pursuing growth and innovation in its core markets, including durable plastics, food, and recycling.
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