secwatch.observer — SEC 8-K summary
======================================

Issuer:     Ferguson Enterprises Inc. /DE/ (FERG)
CIK:        0002011641
Form:       8-K
Filed at:   2026-08-11T20:15:53+00:00
Accession:  0001552781-26-000433
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ferguson secures $1.6B in bridge and term loan facilities to fund FloWorks acquisition
--------------------------------------------------------------------------------

- On Aug 11, 2026, Ferguson entered a $700M unsecured 364-day bridge credit facility with JPMorgan as admin agent.
- Also entered a $900M unsecured 3-year term loan facility; both back the previously disclosed FloWorks (Firecracker) acquisition.
- Term Benchmark loans priced at Term SOFR plus 0.750%-1.250% margin depending on Ferguson's senior unsecured debt rating.
- Commitment fees of 0.07%-0.125% on unused commitments under both facilities begin Nov 7, 2026 (bridge) and 120 days after effective date (term loan).
- Both agreements require max net leverage ratio of 3.50x, with temporary step-up to 4.00x for four quarters after material acquisitions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2011641/000155278126000433/0001552781-26-000433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2011641/000155278126000433/e26338_ferg-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-26-000433

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer