Watsco enters $750 million five-year credit facility, replacing $600 million revolver
Watsco entered an unsecured five-year, $750.0 million syndicated multicurrency credit agreement on October 21, 2026, replacing its $600.0 million revolving credit facility from March 2023. The company borrowed $69.7 million at closing to repay the prior facility, and the new facility matures on October 21, 2031. The filing describes the new terms, including pricing, sublimits and financial covenants, but does not state how the company plans to use the added capacity.
Key points
- New $750.0 million unsecured credit facility dated October 21, 2026, replaces the $600.0 million facility entered into March 16, 2023
- $69.7 million borrowed at closing; proceeds used to repay the prior facility, with $69.7 million outstanding as of the closing date
- Interest at Term SOFR or Daily Simple SOFR plus 100.0 to 137.5 basis points (100.0 basis points at closing); unused commitment fee 10.0 to 17.5 basis points
- Facility matures October 21, 2031; a $150,000 letter of credit from the prior facility remains outstanding and reduces availability
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
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.