Mohawk extends revolver to 2027, ups size to $1.95B; adds $800M term loan

MOHAWK INDUSTRIES INC

Senior revolver maturity extended from Oct 2024 to Aug 2027; facility increased to $1.95B until Oct 2024, then $1.485B.
New $800M delayed-draw term loan facility ($575M USD + €220M); matures Aug 2024; proceeds for working capital.
Interest on USD term loans at SOFR + 0.825%-1.50% or prime-based; euro loans at EURIBOR + 0.825%-1.50%.
Interest coverage covenant raised to 3.50:1.00; net leverage covenant eliminated; certain restrictions removed.
Company may increase revolver commitments by up to $600M; term loan may be prepaid without penalty.

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