Pool lifts facility, replaces JPMorgan with BofA, Union Bank as agents

By Marisa Wong

Madison, Wis., Sept. 24 - Pool Corp. amended its senior credit facility with Wells Fargo Bank, NA as administrative agent to extend the maturity date to Sept. 20, 2018 and increase the borrowing capacity to $465 million from $430 million, according to an 8-K filing with the Securities and Exchange Commission.

Pool also amended the facility to provide additional capacity under some negative covenants, including debt, liens, investments, sale of assets and dividends.

In addition, Bank of America NA and Union Bank, NA are each replacing JPMorgan Chase Bank, NA as a syndication agent, and Merrill Lynch, Pierce, Fenner & Smith Inc. and Union Bank are each replacing J.P. Morgan Securities LLC as a joint lead arranger and joint bookrunner. Regions Bank and Capital One, NA will remain as documentation agents.

The fourth amendment to the credit facility was completed on Sept. 20.

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.