Hayward enters up to $125 million receivables sale agreement with Wells Fargo
Hayward Industries, a subsidiary of Hayward Holdings, signed a Receivables Purchase Agreement with Wells Fargo Bank that lets it sell up to $125 million of eligible customer receivables on an uncommitted, revolving basis. The company also said Billy Emory moved from principal accounting officer to a new customer experience role, with CFO Eifion Jones resuming the principal accounting officer duties.
- Agreement dated July 3, 2024 allows sales of up to $125 million in receivables from specified customers.
- Wells Fargo is not committed to buy any receivables, and the company is not required to offer any.
- Either party may terminate on 30 days' written notice; Wells Fargo may terminate immediately on certain specified events.
- Billy Emory was named Vice President, Customer Experience, effective July 3, 2024; Eifion Jones resumed the principal accounting officer role.