v3.26.1
Long-term debt - current and non-current (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Summary of company's current and non-current portions of long-term debt
The Company’s current and
non-current
portions of long-term debt are comprised of the following:
 
(in millions of $)
   
June 30, 2026
     
   December 31, 2025
  
Long-term debt—net
      2,607.1        2,647.4  
Current portion of Long-term debt—net
      11.6        11.4  
  
 
 
     
 
 
  
Total
   
 
2,618.7
 
   
 
2,658.8
 
Summary of available facilities
Available facilities as of June 30, 2026 are:
 
Facility drawn
   
Nominal
Amount (a)
     
Currency
     
Rate /Margin (b)
    
Maturity
  
Term Loan B—EUR
      1,100.0        EUR        Euribor + 2.00% (0% floor)       11/2/2031  
Term Loan B—USD
      1,339.5        USD        SOFR + 1.75% (0% floor)       11/2/2031  
Term Facility—CAD
      49.0        CAD        CORRA + 1.36%       9/25/2030  
Facility undrawn
           
Revolving Credit Facility (RCF)
      210.0        EUR        SOFR/Euribor + 2.00%       5/2/2031  
Ancillary Facility – ERSTE Bank (c)
      40.0        EUR        SOFR/Euribor + 2.50%       7/31/2027  
Ancillary Facility – HELABA
      50.0        EUR        SOFR/Euribor + 2.00%       5/2/2031  
 
(a)
Nominal amounts without principal amortization payments.
(b)
The table includes the conditions as of 30.06.2026 and loans bear variable interest rates based on Secured Overnight Finance Rate (“SOFR”), Euro Interbank Offered Rate (“EURIBOR”) or Canadian Overnight Repo Rate Average (‘‘CORRA’’) plus applicable margins depending on the leverage ratios.
(c)
$
36.5 million of the ERSTE Bank ancillary facility line was temporarily allocated to the supplier finance program as of June 30, 2026.
Summary of undiscounted future cash outflows of the Company's long-term debt
The following table summarizes the undiscounted future cash outflows of the Company’s long-term debt including interest:
 
(in millions of $)
   
2026
     
2027
     
2028
     
2029
     
2030
     
Thereafter
     
Total
  
Principal
      7.6        15.8        14.6        15.1        44.7        2,530.1        2,627.9  
Interest
      64.8        127.9        127.4        126.3        125.2        103.6        675.2  
  
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
   
 
72.4
 
   
 
143.7
 
   
 
142.0
 
   
 
141.4
 
   
 
169.9
 
   
 
2,633.7
 
   
 
3,303.1
 
Summary of assets pledged as collateral in connection with the Company's borrowing
The total assets pledged as collateral in connection with the Company’s borrowing arrangements were:
 
(in millions of $)
   
June 30, 2026
     
December 31, 2025
  
Cash and cash equivalents
      697.4        430.4  
Accounts receivable—net
      106.9        78.4  
Inventories
      429.4        221.4  
Other current assets
      25.5        8.4  
Property, plant, and equipment—net
      118.3        106.3  
Intangible assets—net
      26.7        27.8  
Other
non-current
assets
      12.7        10.0  
  
 
 
     
 
 
  
Total
   
 
1,416.9
 
   
 
882.7