---
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"
generated_at: "2026-06-17T20:58:38.420495+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Watsco enters new $600M credit facility, replacing $560M prior facility

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 2.04, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-076743
- JSON: https://secwatch.observer/filing/0001193125-23-076743.json
- Plain text: https://secwatch.observer/filing/0001193125-23-076743.txt

## Key facts
- Debt Financings
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm
- Material Agreements
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm

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