Loan & DebtJun 22, 2026, 07:01 AM
Core & Main to refinance $1.23B debt with new $800M term loan
AI Summary
Core & Main, Inc.'s indirect subsidiary, Core & Main LP, has initiated an amendment to its Term Loan Credit Agreement to secure a new $800 million senior term loan. The company also plans to potentially incur an additional $750 million in senior unsecured debt. The combined proceeds are intended to refinance $1,230 million of existing senior term loan debt due in 2028 and for general corporate purposes.
Key Highlights
- Core & Main LP commenced amendment for new $800 million senior term loan.
- New senior term loan expected to mature on seventh anniversary of issuance.
- Intends to incur approximately $750 million in senior unsecured debt.
- Proceeds to refinance $1,230 million outstanding senior term loan due 2028.
- Remaining proceeds for general corporate purposes.
Price Impact
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