Carrier Enterprise Secures $75 Million Credit Facility

Carrier Enterprise, LLC, the newly formed joint venture, entered into a $75 million secured credit agreement with Wells Fargo and J.P. Morgan. The funds are designated for general corporate purposes, including working capital and permitted acquisitions.

“On July 1, 2009, Carrier Enterprise, LLC (“Carrier Enterprise”), a subsidiary of Watsco, Inc. (the “Registrant”), entered into a secured three-year $75.0 million credit agreement (the “Credit Agreement”) with three lenders, Wells Fargo Bank, N.A. as Joint Lead Arranger, Joint Bookrunner and Administrative Agent (the “Administrative Agent”), J.P. Morgan Securities, Inc. as Joint Lead Arranger and Joint Bookrunner and J.P. Morgan Chase Bank, N.A., as Syndication Agent (the “Credit Facility”). Borrowings under the Credit Facility will be used by Carrier Enterprise for general corporate purposes, including working capital and permitted acquisitions.”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.