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Mirion to refinance term loans with $450M 2032 facility

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Mirion Technologies plans a credit agreement refinancing. On November 6, 2025, its U.S. subsidiaries allocated a $450,000,000 tranche of replacement term loans maturing in 2032. The Applicable Margin is expected to be 2.00% for Term SOFR Loans and 1.00% for ABR Loans, with a 25 basis point reduction upon achievement and maintenance of Ba3 (Moody’s) and BB- (S&P) corporate ratings. The loans are expected to be issued with no upfront fees, a SOFR credit spread adjustment of 0.00%, and a SOFR floor of 0.00%.

Proceeds will refinance all outstanding term loans under the existing 2021 Credit Agreement. The transactions are subject to conditions and are anticipated to close in the fourth quarter of 2025; there is no assurance they will be completed on these terms or at all.

Positive

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Negative

  • None.

Insights

$450M 2032 term loans to refinance existing debt; terms set.

Mirion allocated $450,000,000 in replacement term loans maturing in 2032. The stated Applicable Margin is 2.00% for Term SOFR and 1.00% for ABR, with a 0.25% step-down if Ba3/BB- ratings are achieved and maintained. The structure includes no upfront fees, SOFR CSA of 0.00%, and a SOFR floor of 0.00%.

Proceeds will refinance outstanding term loans under the 2021 Credit Agreement, keeping gross debt composition aligned while potentially lowering interest expense if the ratings condition is met. Closing is subject to conditions and anticipated in Q4 2025.

Actual impact depends on final pricing, closing, and future rating status. If the step-down triggers, interest cost could decline by 25 basis points relative to stated margins; otherwise margins remain as outlined.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
FALSE000180998700018099872025-11-062025-11-06

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): November 6, 2025
Mirion Technologies, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware001-3935283-0974996
(State or Incorporation)(Commission File Number)(I.R.S. Employer Identification Number)
1218 Menlo Drive
Atlanta, Georgia 30318
(Address of Principal Executive Offices)
(770) 432-2744
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange
on which registered
Class A common stock, $0.0001 par value per shareMIRNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 8.01. Other Events.
Credit Agreement Refinancing

On November 6, 2025, Mirion Technologies (US Holdings), Inc. and Mirion Technologies (US), Inc. (together with Mirion Technologies (US Holdings), Inc., the “Borrowers”) allocated a $450,000,000 tranche of term loans (the “Replacement Term Loans”) maturing in 2032. The Applicable Margin for the Replacement Term Loans is expected to be (i) 2.00% for Replacement Term Loans that are Term SOFR Loans and (ii) 1.00% for Replacement Term Loans that are ABR Loans, in each case with a 25 basis point reduction in rate upon achievement and maintenance of a Ba3 (stable outlook) corporate rating from Moody’s and a BB- (stable outlook) corporate rating from S&P. The Replacement Term Loans are expected to be issued with no upfront fees, and to have a SOFR credit spread adjustment of 0.00% and a SOFR “floor” of 0.00%. The proceeds of the Replacement Term Loans will be used to refinance all outstanding Term Loans under the Credit Agreement, dated as of October 20, 2021 (as amended by the Agreement and Amendment No. 1 to Credit Agreement dated as of November 22, 2021, as further amended by Amendment No. 2 to Credit Agreement dated as of June 23, 2023, as further modified by the Holdings Assumption Agreement dated as of December 30, 2023, as further amended by Amendment No. 3 to Credit Agreement dated as of May 22, 2024, as further amended by Amendment No. 4 to Credit Agreement dated as of March 21, 2025, as further amended by Amendment No. 5 to Credit Agreement dated as of June 5, 2025, and as further amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the “Credit Agreement”), by and among the Borrowers, Mirion IntermediateCo, Inc., the lending institutions from time to time party thereto, and Citibank, N.A as the Administrative Agent and the Collateral Agent (such refinancing, the “Term Loan Refinancing”). Capitalized terms used herein, but not otherwise defined herein are as defined in the Credit Agreement.

The foregoing transactions are subject to conditions and are anticipated to close in the fourth quarter of 2025. However, there can be no assurance that the Borrowers will be able to successfully complete the transactions, on the terms described above, or at all.

The foregoing may contain forward-looking statements, including, but not limited to, our financing plans and the details thereof, including the proposed use of proceeds therefrom, the expected timing of the Term Loan Refinancing with the Replacement Term Loans and the ability to close such transaction. Forward-looking statements may generally be identified by the use of the words “anticipates,” “expects,” “predicts,” “goals,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” “target,” “commit,” “forecast,” “tracking,” or “continue” and variations or similar expressions, and phrases or statements that certain actions, events or results may, could, should or will be achieved, received or taken or will occur or result, and similar such expressions also identify forward-looking information. These forward-looking statements are based upon the current expectations and beliefs of management and are provided for the purpose of providing additional information about such expectations and beliefs and readers are cautioned that these statements may not be appropriate for other purposes. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those described in these forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in the Company’s most recent annual and quarterly reports and detailed from time to time in the Company’s other filings with the U.S. Securities and Exchange Commission, which risks and uncertainties are incorporated herein by reference.

Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. The Company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
EXHIBIT INDEX
Exhibit
Number
Description
104Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: November 7, 2025

Mirion Technologies, Inc.
By:    /s/ Brian Schopfer    
Name:    Brian Schopfer
Title:    Chief Financial Officer

FAQ

What did MIR announce in this 8-K?

It allocated a $450,000,000 tranche of replacement term loans maturing in 2032 to refinance existing term loans under its 2021 Credit Agreement.

What are the expected interest margins on MIR’s new term loans?

The Applicable Margin is expected to be 2.00% for Term SOFR Loans and 1.00% for ABR Loans.

Can the interest margin be reduced for MIR’s replacement term loans?

Yes. A 25 basis point reduction applies upon achievement and maintenance of Ba3 (Moody’s) and BB- (S&P) corporate ratings.

Are there upfront fees or SOFR adjustments on MIR’s new loans?

They are expected to be issued with no upfront fees, a SOFR credit spread adjustment of 0.00%, and a SOFR floor of 0.00%.

When does MIR expect the refinancing to close?

It is anticipated to close in the fourth quarter of 2025, subject to conditions and without assurance of completion.

What will MIR use the proceeds for?

Proceeds will be used to refinance all outstanding term loans under the existing 2021 Credit Agreement.