The company said on November 4, 2024 it entered into a credit agreement with Truist Bank as administrative agent, providing a $2.0 billion 2-year delayed draw term loan facility.

1. 01

   The company said on November 4, 2024 it entered into a credit agreement with Truist Bank as administrative agent, providing a $2.0 billion 2-year delayed draw term loan facility.

2. 02

   The company said the term loan facility will be used to fund, among other things, the previously announced acquisition of Wake Stone Corporation.

3. 03

   The company said the financial covenant is a maximum debt to EBITDA ratio of 3.50 to 1.00, with a permitted ratio of 4.00 to 1.00 for 4 fiscal quarters after the completion of certain material acquisitions. Borrowings bear interest, at the company's option, at Adjusted Term SOFR plus a margin of 1.000% to 1.625%, or at a base rate plus a margin of 0.000% to 0.625%.

4. 04

   The company said that under the Fifth Amendment dated November 4, 2024, it extended the maturity of its revolving credit facility from August 8, 2027 to November 4, 2029, with 2 one-year extension options of 1 year each. As of the same date, the net amount available for borrowing was about $1,504.8 million, and $95.2 million was used to support standby letters of credit.

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

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