secwatch.observer — SEC 8-K summary
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Issuer:     WATSCO INC (WSO)
CIK:        0000105016
Form:       8-K
Filed at:   2023-03-22T23:59:59+00:00
Accession:  0001193125-23-076743
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/0001193125-23-076743-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/105016/000119312523076743/d481735d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-076743

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