NORDSON CORP 8-K

What Happened

• Nordson Corporation (NDSN) announced on an 8-K that it entered into an Amended and Restated Credit Agreement dated January 30, 2026, establishing a $1,200 million senior unsecured multicurrency revolving credit facility. Wells Fargo Bank, N.A. is the Administrative Agent and a syndicate of banks (including several major global lenders and joint lead arrangers) are lenders. The facility matures January 30, 2031. Nordson used proceeds from the facility to repay and retire $248.0 million of outstanding term loans under its prior credit facility.

Key Details

• Total facility: $1,200 million senior unsecured multicurrency revolving credit facility; maturity January 30, 2031.
• Sub‑facilities and limits: $85 million for standby letters of credit; $100 million swingline; multicurrency sub‑limit equivalent to $425 million for certain currencies (EUR, GBP, CHF, SGD, JPY, etc.).
• Pricing: interest = base rate or applicable reference rate (SOFR, EURIBOR, TIBOR, SORA, SONIA, SARON, etc.) + a margin determined by Nordson’s Leverage Ratio or Debt Rating.
• Covenants & defaults: customary representations, financial covenants (including a leverage ratio and an interest coverage ratio), restrictions on incurring debt, liens, mergers/sales outside the ordinary course, and standard events of default.

Why It Matters

• The new facility secures committed liquidity through 2031 for working capital, acquisitions, general corporate needs and refinancing. Repaying $248.0M of prior term loans reduces near‑term term debt on the balance sheet.
• The covenant package (leverage and interest coverage ratios) and interest margin tied to leverage or credit rating mean the company’s borrowing cost and flexibility can change with its leverage and credit profile—items investors should watch when assessing future cash flow and capital allocation.
• The facility is unsecured and provided by a bank syndicate led by Wells Fargo, so it does not increase secured debt but does create a material, direct financial obligation for Nordson.