| | |||||||||||||||||||||
Title of Each Class of
Securities to Be Registered |
| | |
Amount to be
Registered |
| | |
Maximum Aggregate
Offering Price |
| | |
Amount of
Registration Fee(1) |
| |||||||||
Senior Notes
|
| | | | $ | 300,000,000 | | | | | | $ | 300,000,000 | | | | | | $ | 27,810 | | |
Guarantees of Senior Notes
|
| | | |
|
(2)
|
| | | | |
|
(2)
|
| | | | |
|
(2)
|
| |
| | |
Per Note
|
| |
Total
|
| ||||||
Public offering price(1)
|
| | | | 99.671% | | | | | $ | 299,013,000 | | |
Underwriting discount
|
| | | | 0.650% | | | | | $ | 1,950,000 | | |
Proceeds, before expenses, to nVent Finance
|
| | | | 99.021% | | | | | $ | 297,063,000 | | |
| BofA Securities | | |
Citigroup
|
| |
J.P. Morgan
|
|
|
Goldman Sachs & Co. LLC
|
| |
MUFG
|
| |
US Bancorp
|
|
| BMO Capital Markets | | |
Loop Capital Markets
|
| |
PNC Capital Markets LLC
|
| |
Wells Fargo Securities
|
|
| | |
Page
|
| |||
| | | | S-2 | | | |
| | | | S-3 | | | |
| | | | S-4 | | | |
| | | | S-5 | | | |
| | | | S-11 | | | |
| | | | S-16 | | | |
| | | | S-17 | | | |
| | | | S-18 | | | |
| | | | S-33 | | | |
| | | | S-41 | | | |
| | | | S-48 | | | |
| | | | S-49 | | |
| | |
Page
|
| |||
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| | | | 2 | | | |
| | | | 2 | | | |
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| | | | 4 | | | |
| | | | 5 | | | |
| | | | 6 | | | |
| | | | 24 | | | |
| | | | 34 | | | |
| | | | 35 | | | |
| | | | 36 | | | |
| | | | 37 | | | |
| | | | 38 | | | |
| | | | 39 | | | |
| | | | 41 | | | |
| | | | 43 | | | |
Experts | | | | | 43 | | |
| | |
For the
Nine Months Ended |
| |
For the Years
Ended December 31, |
| ||||||||||||||||||||||||
| | |
September 30,
2021 |
| |
September 30,
2020 |
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||
| | |
(U.S. $ in millions)
|
| |||||||||||||||||||||||||||
Statements of operations and comprehensive income (loss) data:
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net sales
|
| | | $ | 1,793.0 | | | | | $ | 1,447.4 | | | | | $ | 1,998.6 | | | | | $ | 2,204.0 | | | | | $ | 2,213.6 | | |
Income (loss) before income tax
|
| | | | 240.2 | | | | | | (66.0) | | | | | | (9.5) | | | | | | 257.4 | | | | | | 268.7 | | |
Net income (loss)
|
| | | | 205.9 | | | | | | (94.3) | | | | | | (47.2) | | | | | | 222.7 | | | | | | 230.8 | | |
Balance sheet data: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Total assets
|
| | | $ | 4,678.9 | | | | | $ | 4,410.6 | | | | | $ | 4,366.1 | | | | | $ | 4,640.3 | | | | | $ | 4,552.7 | | |
Total debt
|
| | | | 976.5 | | | | | | 1,052.8 | | | | | | 948.0 | | | | | | 1,064.6 | | | | | | 941.7 | | |
Total equity
|
| | | | 2,541.6 | | | | | | 2,413.4 | | | | | | 2,409.8 | | | | | | 2,592.5 | | | | | | 2,687.1 | | |
Other financial information: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net cash provided by (used for) operating activities
|
| | | $ | 258.1 | | | | | $ | 203.7 | | | | | $ | 344.0 | | | | | $ | 336.3 | | | | | $ | 343.5 | | |
Net cash provided by (used for) investing activities
|
| | | | (260.2) | | | | | | (50.9) | | | | | | (65.0) | | | | | | (160.3) | | | | | | (39.1) | | |
Net cash provided by (used for) financing activities
|
| | | | (70.7) | | | | | | (100.2) | | | | | | (272.5) | | | | | | (226.4) | | | | | | (166.6) | | |
Free cash flow(1)
|
| | | $ | 233.0 | | | | | $ | 179.8 | | | | | $ | 306.0 | | | | | $ | 303.8 | | | | | $ | 306.4 | | |
| | |
For the
Nine Months Ended |
| |
For the Years
Ended December 31, |
| ||||||||||||||||||||||||
| | |
September 30,
2021 |
| |
September 30,
2020 |
| |
2020
|
| |
2019
|
| |
2018
|
| |||||||||||||||
| | |
(U.S. $ in millions)
|
| |||||||||||||||||||||||||||
Net cash provided by (used for) operating activities
|
| | | $ | 258.1 | | | | | $ | 203.7 | | | | | $ | 344.0 | | | | | $ | 336.3 | | | | | $ | 343.5 | | |
Capital expenditures
|
| | | | (25.2) | | | | | | (25.4) | | | | | | (40.0) | | | | | | (38.8) | | | | | | (39.5) | | |
Proceeds from sale of property and equipment
|
| | | | 0.1 | | | | | | 1.5 | | | | | | 2.0 | | | | | | 6.3 | | | | | | 2.4 | | |
Free cash flow
|
| | | $ | 233.0 | | | | | $ | 179.8 | | | | | $ | 306.0 | | | | | $ | 303.8 | | | | | $ | 306.4 | | |
| | |
As of
September 30, 2021 |
| |||||||||
| | |
Actual
|
| |
As Adjusted
|
| ||||||
| | |
(U.S. $ in millions)
|
| |||||||||
Cash and cash equivalents
|
| | | $ | 46.0 | | | | | $ | 27.0 | | |
Debt: | | | | | | | | | | | | | |
Revolving credit facility
|
| | | $ | 79.9 | | | | | $ | 79.9 | | |
3.950% Senior Notes due 2023
|
| | | | 300.0 | | | | |
|
—
|
| |
4.550% Senior Notes due 2028
|
| | | | 500.0 | | | | | | 500.0 | | |
Term loan facility
|
| | | | 100.0 | | | | | | 100.0 | | |
Notes offered hereby
|
| | | | — | | | | | | 300.0 | | |
Total debt
|
| | | $ | 979.9 | | | | | $ | 979.9 | | |
Total equity
|
| | | $ | 2,541.6 | | | | | $ | 2,541.6 | | |
Total capitalization
|
| | | $ | 3,521.5 | | | | | $ | 3,521.5 | | |
Fitch Rating*
|
| |
Percentage
|
| |||
BB+
|
| | | | 0.25% | | |
BB
|
| | | | 0.50% | | |
BB-
|
| | | | 0.75% | | |
B+ or below
|
| | | | 1.00% | | |
S&P Rating*
|
| |
Percentage
|
| |||
BB+
|
| | | | 0.25% | | |
BB
|
| | | | 0.50% | | |
BB-
|
| | | | 0.75% | | |
B+ or below
|
| | | | 1.00% | | |
Underwriters
|
| |
Principal Amount of Notes
|
| |||
BofA Securities, Inc.
|
| | | $ | 60,000,000 | | |
Citigroup Global Markets Inc.
|
| | | | 60,000,000 | | |
J.P. Morgan Securities LLC
|
| | | | 60,000,000 | | |
Goldman Sachs & Co. LLC
|
| | | | 24,000,000 | | |
MUFG Securities Americas Inc.
|
| | | | 24,000,000 | | |
U.S. Bancorp Investments, Inc.
|
| | | | 24,000,000 | | |
BMO Capital Markets Corp.
|
| | | | 12,000,000 | | |
Loop Capital Markets LLC
|
| | | | 12,000,000 | | |
PNC Capital Markets LLC
|
| | | | 12,000,000 | | |
Wells Fargo Securities, LLC
|
| | | | 12,000,000 | | |
Total
|
| | | $ | 300,000,000 | | |
| | |
Paid by us
|
| |||
Per note
|
| | | | 0.650% | | |
| | |
Page
|
| |||
| | | | 1 | | | |
| | | | 2 | | | |
| | | | 2 | | | |
| | | | 3 | | | |
| | | | 4 | | | |
| | | | 5 | | | |
| | | | 6 | | | |
| | | | 24 | | | |
| | | | 34 | | | |
| | | | 35 | | | |
| | | | 36 | | | |
| | | | 37 | | | |
| | | | 38 | | | |
| | | | 39 | | | |
| | | | 41 | | | |
| | | | 43 | | | |
| | | | 43 | | |
| BofA Securities | | |
Citigroup
|
| |
J.P. Morgan
|
|
|
Goldman Sachs & Co. LLC
|
| |
MUFG
|
| |
US Bancorp
|
|
| BMO Capital Markets | | |
Loop Capital Markets
|
| |
PNC Capital Markets LLC
|
| |
Wells Fargo Securities
|
|
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