Vontier closes $600 million two-year senior delayed draw term loan

By Marisa Wong

Los Angeles, Aug. 5 – Vontier Corp. entered into a term loan agreement on Thursday for a two-year $600 million senior unsecured delayed draw term loan, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at Libor plus a margin between 75 basis points and 87.5 bps, depending on Vontier’s long-term debt credit rating.

The credit agreement addresses the discontinuation of Libor and its impact on dollar loans, the filing noted.

Two of Vontier’s wholly owned subsidiaries are guarantors under the facility.

BofA Securities, Inc. and Bank of Nova Scotia are the joint lead arrangers and joint bookrunners with Bank of America, NA as administrative agent.

Vontier is a Raleigh, N.C.-based industrial technology company focused on transportation and mobility solutions.

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