debt
confidence high
sentiment neutral
materiality 0.15
Masco amends credit agreement to add GBP/CAD currencies, replace LIBOR with EURIBOR and SOFR
MASCO CORP /DE/
- Amendment expands Agreed Currencies to include British Pounds Sterling and Canadian Dollars.
- EURIBOR replaces LIBOR as interest rate benchmark for Euro-denominated loans.
- For USD loans, benchmark will transition to term SOFR or daily simple SOFR plus spread upon LIBOR discontinuation.
- No new borrowings or changes to the principal amount under the amended agreement.