debt
confidence high
sentiment neutral
materiality 0.55
Sherwin-Williams extends revolver maturity to 2030, adds $750M USD + €250M term loan
SHERWIN WILLIAMS CO
- Revolver amendment extends maturity from July 2029 to August 8, 2030, removes credit spread adjustment, and modifies pricing grid.
- New 364-day delayed draw term loan facility includes $750M USD tranche (Sherwin-Williams borrower) and €250M EUR tranche (SW Luxembourg borrower).
- DDTL available in single draw by October 31, 2025; proceeds for general corporate purposes including working capital.
- Financial covenant: consolidated leverage ratio capped at 3.75x, may increase to 4.25x for four quarters after a Qualifying Acquisition.
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