Mirion Technologies Inc.
12/08/2025 | Press release | Distributed by Public on 12/08/2025 15:13
Material Agreement, Financial Obligation (Form 8-K)
Item 1.01. Entry into a Material Definitive Agreement.
Credit Agreement Refinancing
On December 8, 2025, Mirion IntermediateCo, Inc. ("Holdings"), Mirion Technologies (US Holdings), Inc. and Mirion Technologies (US), Inc. (together with Mirion Technologies (US Holdings), Inc., the "Borrowers") entered into Amendment No. 6 to Credit Agreement ("Amendment No. 6") which amends 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, Holdings, the lending institutions from time to time party thereto, and Citibank, N.A as the Administrative Agent and the Collateral Agent. Capitalized terms used herein, but not otherwise defined herein are as defined in the Credit Agreement.
Amendment No. 6 provides for, among other things, a new $450,000,000 tranche of term loans maturing in 2032 (the "Replacement Term Loans"), the proceeds of which (along with other cash sources) were used to refinance all Term Loans outstanding under the Credit Agreement immediately prior to giving effect to the Amendment. Pursuant to Amendment No. 6, the Applicable Margin is (i) 2.00% for the Replacement Term Loans that are Term SOFR Loans and (ii) 1.00% for the 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 corporate rating from Moody's and a BB- corporate rating from S&P. The Replacement Term Loans have a SOFR credit spread adjustment of 0.00% and a SOFR "floor" of 0.00%. The Replacement Term Loans have a stated maturity date of June 5, 2032, and are subject to a prepayment premium of 1% if made subject to a repricing transaction within six months of the date hereof.
The foregoing description of Amendment No. 6 is qualified in its entirety by reference to the full text of Amendment No. 6, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.
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