SiteOne amends credit agreement to replace LIBOR with SOFR benchmark

SiteOne Landscape Supply, Inc.

Subsidiary entered First Amendment to $325M Second Amended and Restated Credit Agreement on March 27, 2023.
Amendment replaces LIBOR interest rate with a forward-looking SOFR-based rate.
Existing Eurodollar Loans continue at LIBOR until their Interest Period ends, then convert to Term SOFR.
No changes to loan amount, maturity, or other economic terms of the facility.

Key facts

Extracted from this filing and checked against the source text.

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

SiteOne Landscape Supply, Inc. amended First Amendment to Second Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. (effective 2023-03-27).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Effective: 2023-03-27

Exact text from the filing

SiteOne Landscape Supply, Inc. (the “Company”) announced that its subsidiary, SiteOne Landscape Supply Holding, LLC (“Holding”), has entered into the First Amendment to Second Amended and Restated Credit Agreement, dated as of March 27, 2023 (the “First Amendment”), among Holding, as borrower representative, and JPMorgan Chase Bank, N.A., as administrative agent

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SiteOne Landscape Supply, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-037106

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