--- schema_version: "secwatch.filing_event.v1" accession: "0001193125-24-033015" form_type: "8-K" ticker: "CNM" cik: "0001856525" company_name: "Core & Main, Inc." filed_at: "2024-02-13T23:59:59+00:00" generated_at: "2026-06-06T03:44:52.021298+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.65 calibrated_materiality_score: 0.65 confidence: "high" source: SEC EDGAR --- # Core & Main enters $750M incremental term loan, extends ABL revolver to 2029 ## Summary - New $750M seven-year term loan facility at SOFR + 2.25% or base rate + 1.25% matures Feb 9, 2031. - Proceeds to repay ABL borrowings and fund M&A, share repurchases, organic growth. - Existing ABL revolving credit facility maturity extended from July 2026 to February 2029. - Term loan amortizes at 0.25% quarterly; balance due at final maturity. ## SEC filing metadata - accession: 0001193125-24-033015 - form_type: 8-K - ticker: CNM - cik: 0001856525 - company_name: Core & Main, Inc. - filed_at: 2024-02-13T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.65 - calibrated_materiality_score: 0.65 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1856525/000119312524033015/0001193125-24-033015-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1856525/000119312524033015/d778499d8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001193125-24-033015 - JSON: https://secwatch.observer/filing/0001193125-24-033015.json - Plain text: https://secwatch.observer/filing/0001193125-24-033015.txt ## Key facts - Debt Financings Core & Main, Inc. incurred term loan of $750 million with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the several banks and other financial institutions from time to time party thereto at SOFR (subject to a floor of 0.00%) plus an applicable margin of 2.25% per annum, maturing February 9, 2031. - Instrument: term loan - Principal: $750 million - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the several banks and other financial institutions from time to time party thereto - Rate: SOFR (subject to a floor of 0.00%) plus an applicable margin of 2.25% per annum, - Maturity: February 9, 2031 - Event: incurrence source text: agent and collateral agent, and the several banks and other financial institutions from time to time party thereto, in order to, among other things, ( i ) enter into a new $750 million incremental seven-year term loan facility (the “ New Term Loan Facility ”) and ( ii ) amend the Term Loan Credit Agreement to the extent necessary or appropriate to reflect the evidence_url: https://www.sec.gov/Archives/edgar/data/1856525/000119312524033015/0001193125-24-033015-index.htm - Material Agreements Core & Main, Inc. entered into Third Amendment to Term Loan Credit Agreement with JPMorgan Chase Bank, N.A. and other financial institutions valued at $750 million incremental seven-year term loan facility (effective 2024-02-09). - Action: entry - Agreement: credit facility - Counterparty: JPMorgan Chase Bank, N.A. and other financial institutions - Value: $750 million incremental seven-year term loan facility - Effective: 2024-02-09 source text: On February 9, 2024, Core & Main LP, a wholly owned subsidiary of Core & Main, Inc. (“ Core & Main ”), entered into a Third Amendment (the “ Third Amendment ”) to its existing Term Loan Credit Agreement, dated as of August 1, 2017, as amended by the Lender Joinder Agreement, dated as of July 8, 2019, the First Amendment to Term Loan Credit Agreement, dated as of July 27, 2021, and the Second Amendment to Term Loan Credit Agreement, dated as of February 26, 2023 (as amended, the “ Term Loan Credit Agreement ”), by and among Core & Main, the subsidiary borrowers from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the several banks and other financial institutions from time to time party thereto, in order to, among other things, ( i ) enter into a new $750 million incremental seven-year term loan facility (the “ New Term Loan Facility ”) and ( ii ) amend the Term Loan Credit Agreement to the extent necessary or appropriate to refle evidence_url: https://www.sec.gov/Archives/edgar/data/1856525/000119312524033015/0001193125-24-033015-index.htm - Material Agreements Core & Main, Inc. entered into Amendment No. 5 to ABL Credit Agreement with Citibank, N.A. and other financial institutions valued at maturity extension to February 9, 2029 (effective 2024-02-09). - Action: entry - Agreement: credit facility - Counterparty: Citibank, N.A. and other financial institutions - Value: maturity extension to February 9, 2029 - Effective: 2024-02-09 source text: On February 9, 2024, Core & Main entered into Amendment No. 5 (“ Amendment No. 5 ”) to its existing ABL Credit Agreement, dated as of August 1, 2017, as amended by Amendment No. 1 to the ABL Credit Agreement, dated as of July 8, 2019, Amendment No. 2 to the ABL Credit Agreement, dated as of May 4, 2020, Amendment No. 3 to the ABL Credit Agreement, dated as of July 27, 2021, and Amendment No. 4, dated as of July 29, 2022 (as amended, the “ ABL Credit Agreement ”), by and among Core & Main, the subsidiary borrowers from time to time party thereto, Citibank, N.A., as administrative agent and collateral agent, and the several banks and other financial institutions from time to time party thereto, in order to, among other things, ( i ) extend the maturity of the asset-based revolving credit facility (the “ ABL Facility ”) from July 27, 2026 to February 9, 2029, and ( ii ) amend the ABL Credit Agreement to the extent necessary or appropriate to reflect the extension of the amended maturity o evidence_url: https://www.sec.gov/Archives/edgar/data/1856525/000119312524033015/0001193125-24-033015-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.