Watsco Amends $500M Syndicated Credit Facility

Watsco, Inc. and its subsidiary Watsco Canada, Inc. entered into Amendment No. 2 to their existing $500 million syndicated credit agreement, extending the maturity date to July 1, 2018, and revising pricing terms and covenant flexibility.

“On July 1, 2013, the Borrowers, the Administrative Agent and the Lenders entered into Amendment No. 2 to the Credit Facility (the “Second Amendment” and, together with the Credit Facility, the “Amended Credit Facility”), which extended the maturity date from April 27, 2017 to July 1, 2018, revised the pricing terms to reflect current market rates, improved covenant flexibility to reflect the seasonal nature of our working capital requirements and modified certain definitions.”

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