Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.95
WATSCO INC incurred credit facility of $600,000,000 with syndicate of lenders, Bank of America, N.A. as Administrative Agent at Term SOFR or Daily Simple SOFR-based rates plus 0.10% plus a spread which ranges maturing five-year.
- Instrument
- credit facility
- Principal
- $600,000,000
- Counterparty
- syndicate of lenders, Bank of America, N.A. as Administrative Agent
- Rate
- Term SOFR or Daily Simple SOFR-based rates plus 0.10% plus a spread which ranges
- Maturity
- five-year
- Event
- incurrence
Exact text from the filing
On March 16, 2023 (the “ Closing Date ”), Watsco, Inc., a Florida corporation (the “ Company ”), Watsco Canada, Inc., a corporation organized under the laws of New Brunswick, Canada and a wholly owned subsidiary of the Company (“ Watsco Canada ”), Carrier Enterprise Mexico, S. de R.L. de C.V., a corporation organized under the laws of Mexico and an 80% owned subsidiary of the Company (“ Watsco Mexico ”) and certain of their respective subsidiaries (such subsidiaries, together with the Company, Watsco Canada and Watsco Mexico, the “ Borrowers ”), entered into an unsecured, five-year $600,000,000 syndicated multicurrency credit agreement (the “ New Credit Facility ”) with a syndicate of lenders (the “ Lenders ”), Bank of America, N.A. as Administrative Agent (in such capacity, the “ Administrative Agent ”), Swing Line Lender and L/C Issuer, JPMorgan Chase Bank, N.A. as Syndication Agent, and U.S. Bank National Association and Wells Fargo Bank, National Association as Co-Documentation Age
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
WATSCO INC terminated Prior Credit Facility valued at $560,000,000 (effective 2023-03-16).
- Action
- termination
- Agreement
- credit facility
- Value
- $560,000,000
- Effective
- 2023-03-16
Exact text from the filing
The New Credit Facility replaces in its entirety the Company’s unsecured $560,000,000 revolving credit facility, entered into as of December 5, 2018 (the “ Prior Credit Facility ”). On the Closing Date, the Borrowers borrowed approximately $235,500,000 under the New Credit Facility, the proceeds of which were used to repay outstanding borrowings under the Prior Credit Facility.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
WATSCO INC entered into New Credit Facility with Bank of America, N.A., JPMorgan Chase Bank, N.A., U.S. Bank National Association, Wells Fargo Bank, National Association, and other lenders valued at $600,000,000 (effective 2023-03-16).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A., JPMorgan Chase Bank, N.A., U.S. Bank National Association, Wells Fargo Bank, National Association, and other lenders
- Value
- $600,000,000
- Effective
- 2023-03-16
Exact text from the filing
On March 16, 2023 (the “ Closing Date ”), Watsco, Inc., a Florida corporation (the “ Company ”), Watsco Canada, Inc., a corporation organized under the laws of New Brunswick, Canada and a wholly owned subsidiary of the Company (“ Watsco Canada ”), Carrier Enterprise Mexico, S. de R.L. de C.V., a corporation organized under the laws of Mexico and an 80% owned subsidiary of the Company (“ Watsco Mexico ”) and certain of their respective subsidiaries (such subsidiaries, together with the Company, Watsco Canada and Watsco Mexico, the “ Borrowers ”), entered into an unsecured, five-year $600,000,000 syndicated multicurrency credit agreement (the “ New Credit Facility ”) with a syndicate of lenders (the “ Lenders ”)
View on SEC.gov