Waters Corp amends credit facility; removes $200M term loan, retains $1.8B revolver through 2030

WATERS CORP /DE/

Removed existing $200M term loan; retained $1.8B senior unsecured revolving credit facility maturing May 22, 2030.
May request up to $750M incremental commitments (total cap $2.55B); up to $50M available for letters of credit.
Interest spreads: Term SOFR + 80–112.5 bps; facility fee 7.5–22.5 bps based on leverage or debt ratings.
Leverage covenant max 3.50x (can rise to 4.25x for acquisitions ≥$500M cash consideration).
JPMorgan Chase remains administrative agent; subsidiaries guarantee obligations.

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