Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
OnDecember 16, 2022 ,Mettler-Toledo International Inc. (the "Company") entered into a Note Purchase Agreement with the accredited institutional investors named therein (the "Agreement"). Pursuant to the Agreement, the Company will issue and sell, in a private placement,$150 million aggregate principal amount of its 5.45% Series 2023-A Senior Notes dueMarch 1, 2033 (the "Notes") onMarch 1, 2023 .
The Notes bear interest at a fixed rate of 5.45% and mature on
The Company may at any time prepay the Notes, in whole or in part, at a price equal to: 100% of the principal amount thereof; plus accrued and unpaid interest; plus, in some instances, a "make-whole" prepayment premium. In the event of a change in control (as defined in the Agreement) of the Company, the Company may be required to offer to prepay the Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest. The Agreement contains customary affirmative and negative covenants for agreements of this type including, among others, limitations on the Company and its subsidiaries with respect to incurrence of liens and priority indebtedness, disposition of assets, mergers, and transactions with affiliates. The Agreement also requires the Company to maintain a consolidated interest coverage ratio of more than 3.00 to 1.00 and a consolidated net leverage ratio of less than (a) 3.50 to 1.00 or (b) during an Acquisition Holiday Period (as defined in the Agreement), 4.00 to 1.00. The Agreement contains customary events of default with customary grace periods, as applicable The Notes are senior unsecured obligations of the Company. The Company may use the proceeds from the sale of Notes to refinance existing indebtedness and for other general corporate purposes. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 4.1 hereto and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits Exhibit No. Description 4.1 Note Purchase Agreement dated as ofDecember 16, 2022 104 Cover Page Interactive Data File (embedded within
the Inline XBRL document).*
* Submitted electronically with this Report in
accordance with the provisions
of Regulation S-T.
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