COMFORT SYSTEMS USA INC (FIX): debt financing — Comfort Systems USA upsizes revolving credit facility to $1.1B, extends maturity to 2030

COMFORT SYSTEMS USA INC

New $1.1B senior secured revolver replaces $850M prior facility; maturity extended to Oct 1, 2030.
Incremental increase option up to greater of $500M or 1.0x Consolidated EBITDA.
Subfacilities: $200M letters of credit, $75M swingline loans.
Net leverage covenant max 4.00x post-acquisition, 3.50x otherwise; interest coverage min 3.00x.
Dividend/stock repurchase unlimited when net leverage ≤ 2.75x; acquisitions unlimited when leverage 0.25x below max.

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

COMFORT SYSTEMS USA INC amended revolving credit of $1.1 billion with Wells Fargo Bank, National Association, as administrative agent at term SOFR plus 1.25% at closing maturing October 1, 2030.

Instrument: revolving credit
Principal: $1.1 billion
Counterparty: Wells Fargo Bank, National Association, as administrative agent
Rate: term SOFR plus 1.25% at closing
Maturity: October 1, 2030
Event: amendment

Exact text from the filing

on the Company’s assets related to projects subject to surety bonds. The revolving line of credit to the Company was increased from $850 million under the Prior Facility, to $1.1 billion under the Facility. The Facility includes an option to increase the Facility by an amount up to the greater of (a) $500 million and (b) 1.0x the Company’s Consolidated EBITDA (as

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Source: SEC EDGAR

accession 0001104659-25-086404

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