IDEX draws $200 million from term loan, $168 million from revolver

By Marisa Wong

Los Angeles, Nov. 17 – IDEX Corp. drew down about $200 million from its term credit facility on Nov. 10, according to an 8-K filing with the Securities and Exchange Commission.

On Nov. 10 and Nov. 15, the company made additional draws in an aggregate amount of about $168 million from its revolving credit facility under the terms of its amended and restated credit agreement dated Nov. 1.

As previously disclosed, the proceeds from the borrowings will be used to finance a portion of the consideration for the company’s previously announced acquisition of Muon BV.

Borrowings have a final maturity date of Nov. 1, 2027 and bear interest at term SOFR plus an applicable margin based on the company’s senior unsecured long-term debt rating or the company’s applicable leverage ratio.

Bank of America, NA is administrative agent, swingline lender and an issuer of letters of credit.

JPMorgan Chase Bank, NA, PNC Bank, NA and Wells Fargo Bank, NA are co-syndication agents and issuers of letters of credit.

HSBC Bank USA, NA, Mizuho Bank, Ltd. and Bank of China, Chicago Branch are co-documentation agents.

IDEX is a Northbrook, Ill.-based manufacturer of products and mission-critical components that improve everyday life. Muon is a Netherlands-based micro-precision technology manufacturing company.

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