Pool Corp. switches to term SOFR under two credit facilities

By Marisa Wong

Los Angeles, July 5 – Pool Corp. entered into a second amendment on June 30 to its second amended and restated credit agreement dated Sept. 27, 2021 with Wells Fargo Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment updated the index used for the base rate to term SOFR from Libor.

The amendment also increased the maximum amount for the accounts securitization to $500 million from $350 million and increased the Canadian dollar commitment, euro commitment and swingline commitment to $50 million each.

Pool is U.S. borrower, SCP Distributors Canada Inc. is Canadian borrower and SCP International, Inc. is euro borrower under the facility.

The company also entered into a second amendment on June 30 to its credit agreement dated Dec. 30, 2019 with Bank of America, NA as lender.

The term facility amendment updated the index used for the base rate to term SOFR from Libor.

Pool is borrower under the term facility.

Pool is a Covington, La.-based wholesale distributor of swimming pool and related backyard products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.