Ferguson Enterprises entered into an unsecured revolving credit facility of $1.5 billion with JPMorgan Chase Bank, N.A. as administrative agent, maturing on April 2, 2030. The company said the agreement was signed on April 2, 2025.

1. 01

   Ferguson Enterprises entered into an unsecured revolving credit facility of $1.5 billion with JPMorgan Chase Bank, N.A. as administrative agent, maturing on April 2, 2030. The company said the agreement was signed on April 2, 2025.

2. 02

   The company said it may request an increase of up to $500 million in the total aggregate commitment, subject to obtaining commitments from existing or new lenders and meeting certain conditions.

3. 03

   The company said the margins on Base Rate loans range from 0.000% to 0.375% and on Term Benchmark loans from 0.875% to 1.375%, depending on its senior unsecured debt rating. It said the commitment fee on unused commitments ranges from 0.07% to 0.15%. It also said it must maintain a maximum net leverage ratio of 3.50 to 1.00, or 4.00 to 1.00 for each of the 4 fiscal quarters immediately after certain material acquisitions.

4. 04

   The company said it terminated its existing $1.35 billion Multicurrency Revolving Facility Agreement on April 2, 2025 in connection with entering into the new credit agreement. It said no borrowings were outstanding under the existing facility as of the termination date.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.