Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers P > Headlines for Pool Corp. > News item |
Pool refinances with expanded $430 million facility to repay notes, fund growth initiatives
By Susanna Moon
Chicago, Oct. 20 - Pool Corp. entered into a $430 million unsecured syndicated senior credit facility on Wednesday with Wells Fargo Bank, NA as administrative agent, swingline lender and issuing lender, according to an 8-K filing with the Securities and Exchange Commission.
The facility replaces the company's $240 million unsecured revolving credit facility set to mature on Dec. 20, 2012.
The increased borrowing capacity will be used to pay down the company's $100 million of private placement notes due February 2012, to fund future growth initiatives and for general corporate purposes.
JPMorgan Chase Bank, NA is the syndication agent. Wells Fargo Securities, LLC and J.P. Morgan Securities LLC are joint lead arrangers and bookrunners.
In connection with the new facility, Pool terminated its credit agreement with Wachovia Bank, NA as administrative agent, swingline lender and issuing lender and JPMorgan Chase Bank, NA as syndication agent.
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.