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

By Mary-Katherine Stinson

Lexington, Ky., Nov. 3 – Vontier Corp. entered into a term loan agreement on Oct. 28 for a $600 million senior delayed-draw term loan with a three-year tenor with a syndicate of lenders, according to an 8-K filing with the Securities and Exchange Commission.

Borrowings bear interest at SOFR plus CSA of 10 basis points plus a margin between 100 bps and 162.5 bps, depending on Vontier’s long-term debt credit rating.

A single borrowing is available under the term loan facility until Dec. 30 subject to satisfaction of certain conditions.

Vontier will pay a ticking fee on the term loan’s unfunded amount between 12.5 bps and 32.5 bps, again based on ratings.

Bank of America, NA is the administrative agent.

BofA Securities, Inc., Bank of Nova Scotia, PNC Capital Markets LLC and Toronto-Dominion Bank, New York Branch are the joint lead arrangers and joint bookrunners.

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

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

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