Ferguson signs $1.6 billion in bridge and term loans to fund FloWorks acquisition
Ferguson Enterprises entered into a $700 million bridge credit facility and a $900 million term loan facility, both with JPMorgan Chase Bank as administrative agent, to help fund its acquisition of FWI Holdings, Inc. (FloWorks). The bridge loan is available only if the company lacks other bank or capital markets financing sufficient to fund the deal, and both facilities depend on the acquisition closing.
Key points
- Bridge credit facility of up to $700 million, unsecured, maturing 364 days after funding
- Term loan facility of up to $900 million, unsecured, maturing three years after funding
- Both facilities require a maximum net leverage ratio of 3.50 to 1.00, stepping up to 4.00 to 1.00 after certain material acquisitions
The filing
Written by AI on Nov 8, 2026, 7:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.