---
schema_version: "secwatch.filing_event.v1"
accession: "0001003078-22-000179"
form_type: "8-K"
ticker: "MSM"
cik: "0001003078"
company_name: "MSC INDUSTRIAL DIRECT CO INC"
filed_at: "2022-12-20T23:59:59+00:00"
generated_at: "2026-06-21T01:19:31.150146+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# MSC Industrial Direct enters $300M receivables purchase facility

## Summary
- Receivables Purchase Agreement for up to $300M committed senior secured revolving trade receivables facility, dated Dec 19, 2022.
- Pricing based on 1-month Term SOFR plus a margin; facility includes financial covenants: max leverage 3.00x, interest coverage >3.00x.
- Seller is MSC A/R Holding Co.; originator is Sid Tool Co.; Wells Fargo is admin agent; Bank of America and Regions Bank are purchasers and also lenders under existing revolving credit facility.
- Facility used to sell trade receivables; proceeds support working capital and general corporate purposes.

## SEC filing metadata
- accession: 0001003078-22-000179
- form_type: 8-K
- ticker: MSM
- cik: 0001003078
- company_name: MSC INDUSTRIAL DIRECT CO INC
- filed_at: 2022-12-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1003078/000100307822000179/0001003078-22-000179-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1003078/000100307822000179/msm-20221219x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001003078-22-000179
- JSON: https://secwatch.observer/filing/0001003078-22-000179.json
- Plain text: https://secwatch.observer/filing/0001003078-22-000179.txt

## Key facts
- Material Agreements
  MSC INDUSTRIAL DIRECT CO INC entered into Receivables Facility with Wells Fargo Bank, National Association, as administrative agent, and Sid Tool Co., Inc., as originator valued at $300.0 million (effective 2022-12-19).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, and Sid Tool Co., Inc., as originator
  - Value: $300.0 million
  - Effective: 2022-12-19
  source text: Additionally, MSC A/R also entered into a Receivables Sale Agreement, dated as of December 19, 2022 (the “RSA” and, together with the RPA, collectively the “Receivables Facility”), by and between MSC A/R, as buyer and Sid Tool Co., Inc., a wholly owned subsidiary of the Company (“Sid Tool”), as originator. The Receivables Facility is a committed senior secured revolving trade receivables facility in an initial aggregate amount of $300.0 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1003078/000100307822000179/0001003078-22-000179-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.