Core & Main Enters Into Fifth Amendment to Credit Agreement

On December 17, 2024, Core & Main, Inc. filed an 8-K report with the Securities and Exchange Commission, detailing the recent developments within the company. Core & Main LP, an indirect wholly owned subsidiary of Core & Main, Inc., entered into a Fifth Amendment to its existing Credit Agreement. This amendment, known as the Fifth Amendment, was made to the Credit Agreement dated August 1, 2017, which had been previously amended several times.

The Fifth Amendment includes provisions for borrowing Specified Refinancing Term Loans in the form of Tranche E Term Loans, with an aggregate principal amount of approximately $744 million. Additionally, the amendment allows for the incurrence of Supplemental Term Loans amounting to $200 million. The proceeds from these loans will be utilized for various purposes, including repaying existing term loans, paying fees, costs, and expenses related to the transactions, and amending the existing agreement as needed.

The Tranche E Term Loans under the Fifth Amendment bear interest at a floating rate based on the secured overnight financing rate (SOFR) or an alternate base rate, with respective margins applied. These loans will amortize in nominal quarterly installments and will mature on February 9, 2031.

The company noted that the details provided in the filing do not encompass the complete terms of the Fifth Amendment and advised referring to the original document for a comprehensive understanding.

In accordance with the SEC filing requirements, Core & Main, Inc. has examined and duly caused the report to be signed on its behalf by Mark G. Whittenburg, the General Counsel, and Secretary, on December 17, 2024. The filing includes the Fifth Amendment to the Credit Agreement dated December 17, 2024, as an exhibit, for reference. Additionally, the filing contains the cover page interactive data file embedded within the Inline XBRL document.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Core & Main’s 8K filing here.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.