Pentair plc Form 8-K Filing

On September 1, 2026, Pentair plc entered into a Credit Agreement, establishing a $400.0 million senior unsecured tranche 1 term loan facility and a $1.0 billion senior unsecured tranche 2 term loan facility. These facilities, with Pentair Finance S.à r.l. as borrower and Pentair and Pentair U.S. as guarantors, are intended to finance a portion of the $1.425 billion acquisition of Taco Group Holdings, pay related fees and expenses, and refinance certain outstanding indebtedness of Taco. The loans are subject to customary conditions, including the concurrent closing of the Taco Acquisition and the absence of material adverse effects. The facilities bear interest at an adjusted base rate or Term SOFR, plus an applicable margin based on Pentair's leverage or credit rating. Tranche 1 loans mature 18 months after the acquisition closing, and Tranche 2 loans mature on May 5, 2030. The agreement includes financial covenants related to net leverage and interest coverage ratios, as well as restrictions on liens, mergers, acquisitions, and subsidiary debt. Customary events of default are also outlined.