{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-076743","form_type":"8-K","ticker":"WSO","cik":"0000105016","company_name":"WATSCO INC","filed_at":"2023-03-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.667724+00:00","generated_at":"2026-06-17T20:58:38.420495+00:00","sec_items":["1.01","1.02","2.03","2.04","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Watsco enters new $600M credit facility, replacing $560M prior facility","bullets":["New $600M unsecured five-year multicurrency revolving credit facility; $500M seasonal reduction optional from Oct–Mar.","At closing, $235.5M borrowed to repay prior facility; $194.6M outstanding after repayment of prior debt.","Interest rate spreads: Term SOFR + 100–137.5 bps (USD); commitment fee 12.5–27.5 bps on unused portion.","Facility includes $125M swingline, $75M alternative currency sublimit, $10M Mexican borrowing subfacility.","Covenants include consolidated leverage and interest coverage ratio; guaranteed by substantially all wholly owned subsidiaries."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-076743","json":"https://secwatch.observer/filing/0001193125-23-076743.json","markdown":"https://secwatch.observer/filing/0001193125-23-076743.md","text":"https://secwatch.observer/filing/0001193125-23-076743.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/d481735d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T20:58:38.420495+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5a72c79b5acc600bdfd0814cac49436fcb03a4f6","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$600,000,000"},{"label":"Counterparty","value":"syndicate of lenders, Bank of America, N.A. as Administrative Agent"},{"label":"Rate","value":"Term SOFR or Daily Simple SOFR-based rates plus 0.10% plus a spread which ranges"},{"label":"Maturity","value":"five-year"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"95464ab827a7eb6e7e36541ac094e1b81c64c558","claim":"WATSCO INC terminated Prior Credit Facility valued at $560,000,000 (effective 2023-03-16).","evidence_excerpt":"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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"credit facility"},{"label":"Value","value":"$560,000,000"},{"label":"Effective","value":"2023-03-16"}],"fact_type":"material_agreement"},{"claim_id":"e4a3fb70703f5a73fb33e0bfe5d0e0bd55b97c93","claim":"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).","evidence_excerpt":"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 ”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Bank of America, N.A., JPMorgan Chase Bank, N.A., U.S. Bank National Association, Wells Fargo Bank, National Association, and other lenders"},{"label":"Value","value":"$600,000,000"},{"label":"Effective","value":"2023-03-16"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}