WATERS CORP /DE/ (WAT): debt financing — 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.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

WATERS CORP /DE/ amended revolving credit of $1.8 billion with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR plus an applicable spread ranging from 80 basis points to 112.5 basis maturing May 22, 2030.

Instrument: revolving credit
Principal: $1.8 billion
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Term SOFR plus an applicable spread ranging from 80 basis points to 112.5 basis
Maturity: May 22, 2030
Event: amendment

Exact text from the filing

On May 22, 2025, Waters Corporation (the “Company”) and certain of its subsidiaries, as guarantors, entered into an Amendment and Restatement Agreement (the “Amendment”) in respect of that certain Amended and Restated Credit Agreement, dated as of September 17, 2021 and amended as of March 3, 2023 (the “Existing Credit Agreement”, and as amended by the Amendment, the “Amended Credit Agreement”), with the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, pursuant to which the Company, among other things, removed its existing term loan facility of up to $200 million and retained its existing senior unsecured revolving credit facility in an aggregate principal amount of up to $1.8 billion (the “Revolving Facility”).

View on SEC.gov

Browse all debt financings →

WATERS CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001193125-25-130641

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.