---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-010370"
form_type: "8-K"
ticker: null
cik: "0001600438"
company_name: "GMS Inc."
filed_at: "2024-02-05T23:59:59+00:00"
generated_at: "2026-06-06T09:10:26.211777+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# GMS subsidiary lowers term loan interest rate by 75 bps to SOFR+2.25% via Amendment No. 7

## Summary
- Interest rate on term SOFR loans reduced from Term SOFR+3.00% to Term SOFR+2.25%.
- Base rate loans reduced from Base Rate+2.00% to Base Rate+1.25%.
- Amendment converts $396.4M of 2023 Refinancing Term Loans into 2024 Refinancing Term Loans.
- New additional 2024 Refinancing Term Commitment of ~$102.3M from Wells Fargo brings total to $498.75M.
- Proceeds used to repay non-converted 2023 Refinancing Term Loans; no novation occurred.

## SEC filing metadata
- accession: 0001104659-24-010370
- form_type: 8-K
- cik: 0001600438
- company_name: GMS Inc.
- filed_at: 2024-02-05T23:59:59+00:00
- event_type: debt
- sentiment: positive
- 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/1600438/000110465924010370/0001104659-24-010370-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1600438/000110465924010370/tm245033d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-010370
- JSON: https://secwatch.observer/filing/0001104659-24-010370.json
- Plain text: https://secwatch.observer/filing/0001104659-24-010370.txt

## Key facts
- Debt Financings
  GMS Inc. amended credit facility with JPMorgan Chase Bank N.A. at Term SOFR plus 2.25% (reduced from Term SOFR plus 3.00%).
  - Instrument: credit facility
  - Counterparty: JPMorgan Chase Bank N.A.
  - Rate: Term SOFR plus 2.25% (reduced from Term SOFR plus 3.00%)
  - Event: amendment
  source text: The disclosures of the material terms and conditions of the Term Loan Amendment contained in Item 1.01 above are hereby incorporated by reference into this Item 2.03.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1600438/000110465924010370/0001104659-24-010370-index.htm
- Material Agreements
  GMS Inc. amended Term Loan Amendment with JPMorgan Chase Bank N.A. (effective 2024-02-02).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank N.A.
  - Effective: 2024-02-02
  source text: On February 2, 2024, GYP Holdings III Corp. (the “Company”), an indirect subsidiary of GMS Inc., entered into Amendment No. 7 (the “Term Loan Amendment”), by and among the Company, GYP Holdings II Corp., certain subsidiaries of the Company party thereto, the lenders party thereto, and JPMorgan Chase Bank N.A. , as the administrative agent and collateral agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1600438/000110465924010370/0001104659-24-010370-index.htm

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