Watsco Enters $500M Syndicated Credit Facility

Watsco, Inc. and its subsidiary Watsco Canada entered into a five-year $500 million syndicated credit agreement with nine lenders, replacing two prior credit facilities. The new facility includes swingline, letter of credit, and multicurrency sublimits.

“On April 27, 2012 (the “Closing Date”), Watsco, Inc., a Florida corporation (the “Company”) and Watsco Canada, Inc., a corporation organized under the laws of New Brunswick, Canada, and a wholly-owned subsidiary of the Company (“Watsco Canada” and, together with the Company, the “Borrowers”), entered into an unsecured, five-year $500,000,000 syndicated credit agreement (the “New Credit Facility”) with nine lenders (the “Lenders”), JPMorgan Chase Bank, N.A. as Administrative Agent (the “Administrative Agent”), Bank of America, N.A. and Wells Fargo Bank, National Association as Co-Syndication Agents, and U.S. Bank National Association as Documentation Agent.”

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