Core & Main enters $1.459B debt refinancing, new Tranche D Term Loans due 2028

Core & Main, Inc.

Fourth Amendment upsizes term loans to $1.459 billion; Tranche D Term Loans issued May 21, 2024.
Interest rate: SOFR + 2.00% or base rate + 1.00% per annum, floating at borrower's option.
Final maturity: July 27, 2028; quarterly amortization of 0.25% of initial principal.
Proceeds, plus cash on hand and ABL borrowings, repay existing Tranche B Term Loans and fees.
Repricing prepayment premium of 1.0% applies for six months on certain refinancings.

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