Chart Industries Announces Favorable Repricing of Term Loan Facility
13 Juin 2024 - 12:30PM
Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in
clean energy and industrial gas solutions, has successfully
syndicated the repricing of its $1,631 million senior secured term
loan facility (the “Term Loan”), which matures on March 17, 2030.
Following the completion of the repricing, all outstanding amounts
under the Term Loan will bear interest at a rate per annum equal to
SOFR with a 0.50% floor plus a margin equal to 2.50%. The repricing
represents a reduction of 0.75% per annum compared to the SOFR
margin applicable prior to the repricing as well as the removal of
the 0.10% credit spread adjustment. This is anticipated to result
in cost savings of approximately $14 million in annual interest
expense on the Term Loan.
The repricing described above is expected to be implemented via
an amendment to Chart’s fifth amended and restated credit
agreement, which is expected to close in July 2024, subject to
customary closing conditions and the execution of definitive
documentation.
About Chart Industries
Chart Industries, Inc. is an independent global leader in the
design, engineering, and manufacturing of process technologies and
equipment for gas and liquid molecule handling for the Nexus of
Clean™ - clean power, clean water, clean food, and clean
industrials, regardless of molecule. The company’s unique product
and solution portfolio across stationary and rotating equipment is
used in every phase of the liquid gas supply chain, including
engineering, service and repair and from installation to preventive
maintenance and digital monitoring. Chart is a leading provider of
technology, equipment and services related to liquefied natural
gas, hydrogen, biogas, and CO2 capture amongst other applications.
Chart is committed to excellence in environmental, social, and
corporate governance (ESG) issues both for its company as well as
its customers. With 64 global manufacturing locations and over 50
service centers from the United States to Asia, Australia, India,
Europe, and South America, the company maintains accountability and
transparency to its team members, suppliers, customers, and
communities. To learn more, visit
www.chartindustries.com.
Investor Contact:
John WalshVP, Investor Relations770-721-8899
john.walsh@chartindustries.com
Chart Industries (NYSE:GTLS)
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