Chart Industries Announces Favorable Repricing of Term Loan Facility
Rhea-AI Summary
Chart Industries (NYSE: GTLS), a leader in clean energy and industrial gas solutions, announced the successful repricing of its $1,631 million senior secured term loan facility. The new terms lower the interest rate by 0.75% per annum, resulting in an anticipated annual interest expense saving of $14 million. The repricing will be implemented through an amendment to Chart's fifth amended and restated credit agreement, expected to close in July 2024, subject to customary conditions.
Positive
- Successful repricing of $1,631 million term loan.
- Interest rate reduction by 0.75% per annum.
- Anticipated annual cost savings of $14 million.
- Repricing to be implemented via an amendment expected to close in July 2024.
Negative
- Implementation subject to customary closing conditions.
- Execution of definitive documentation still pending.
News Market Reaction – GTLS
In the trading session that priced this news, GTLS declined 1.67%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ATLANTA, June 13, 2024 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (NYSE: GTLS) (“Chart”), a global leader in clean energy and industrial gas solutions, has successfully syndicated the repricing of its
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 Walsh
VP, Investor Relations
770-721-8899
john.walsh@chartindustries.com
