Loan & DebtApr 10, 2026, 08:02 AM
Core & Main Extends $1.25 Billion ABL Credit Agreement Maturity to April 2031
AI Summary
Core & Main LP, an indirect wholly owned subsidiary of Core & Main, Inc., has executed Amendment No. 6 to its existing ABL Credit Agreement. This amendment significantly extends the maturity date of the $1.25 billion aggregate commitments by five years to April 9, 2031, providing the company with enhanced long-term financial flexibility and liquidity. Additionally, the agreement sees a change in the administrative and collateral agent, with Wells Fargo Bank, National Association, succeeding Citibank, N.A. The amendment also incorporates other adjustments to the covenants, aligning the credit facility with the company's ongoing financial strategy.
Key Highlights
- Core & Main LP, an indirect wholly owned subsidiary of Core & Main, Inc., entered into Amendment No. 6 to its ABL Credit Agreement on April 9, 2026.
- The maturity date for the $1,250 million aggregate commitments under the ABL Credit Agreement has been extended to April 9, 2031.
- The extension includes a proviso that if certain other existing indebtedness remains outstanding 91 days prior to the new maturity date, the commitments will mature earlier.
- Wells Fargo Bank, National Association, has replaced Citibank, N.A. as the successor administrative agent and collateral agent.
- The amendment also provides for other adjustments to the covenants within the ABL Credit Agreement.
Price Impact
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