Vertiv Holdings Co (VRT) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Vertiv Holdings Co surfaced in its latest filing.

• Senior Unsecured Revolving Credit Facility restricts ability and subsidiaries' ability to incur liens, consolidate or merge, incur additional indebtedness, and pay dividends and distributions when a default or event of default exists, subject to thresholds and exceptions, and requires a maximum Consolidated Leverage Ratio of 4.00:1.00, with an optional step-up to 4.50:1.00 for four quarters after an acquisition with at least $750 million cash consideration.
• Senior Secured Notes restrict certain subsidiaries' ability to grant liens, merge, dispose of assets, pay dividends or make restricted payments, incur indebtedness, make investments, optionally prepay or modify junior indebtedness, and enter into affiliate transactions, subject to thresholds and exceptions.
• Senior Notes restrict ability and subsidiaries' ability to incur certain liens, engage in sale and leaseback transactions, or consolidate or merge, subject to exceptions.