Mister Car Wash, Inc. (MCW): debt financing — Mister Car Wash completes $925M term loan and $300M revolver refinancing, extending maturities to 2031/2029

Mister Car Wash, Inc.

Upsized term loan from $901M to $925M; maturity extended from 2026 to 2031.
Revolver increased from $150M to $300M; maturity extended from 2026 to 2029.
Interest rate SOFR+300bps (term loan) and SOFR+250bps (revolver); 0.10% credit spread adjustment removed.
Proceeds used to fully refinance existing $901M term loan B and $150M revolver due 2026.
CFO cites oversubscription and favorable pricing to support brand expansion and profitable growth.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Mister Car Wash, Inc. amended credit facility of $925.0 million in first lien term commitments, consisting of: a. $901.2 million to refinance outstanding term loans b. $ with Bank of America, N.A. at Term SOFR or Base Rate, at the Borrower's option, plus an applicable margin (3.0 maturing March 27, 2031.

Instrument: credit facility
Principal: $925.0 million in first lien term commitments, consisting of: a. $901.2 million to refinance outstanding term loans b. $
Counterparty: Bank of America, N.A.
Rate: Term SOFR or Base Rate, at the Borrower's option, plus an applicable margin (3.0
Maturity: March 27, 2031
Event: amendment

Exact text from the filing

by Amendment No. 5, the “Credit Agreement”). Defined terms used herein and not defined have the meaning set forth in the Credit Agreement. The Credit Agreement provides for: 1. $925.0 million in first lien term commitments, consisting of: a. $901.2 million to refinance outstanding term loans b. $23.8 million in additional incremental term commitments (collectively,

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Mister Car Wash, Inc. amended Amendment No. 5 with Hotshine Intermediateco, Inc., other guarantors, lenders, and Bank of America, N.A. as administrative and collateral agent valued at $925.0 million (effective 2024-03-27).

Action: amendment
Agreement: credit facility
Counterparty: Hotshine Intermediateco, Inc., other guarantors, lenders, and Bank of America, N.A. as administrative and collateral agent
Value: $925.0 million
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024, Mister Car Wash Holdings, Inc. (the "Borrower") entered into Amendment No. 5 to its Amended and Restated First Lien Credit Agreement with Hotshine Intermediateco, Inc. ("Holdings"), other guarantors, lenders, and Bank of America, N.A. ("BofA") as the successor administrative agent and collateral agent.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Mister Car Wash, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-038877

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