Watsco secures $750 million five‑year revolving credit facility
Watsco announced a $750 million unsecured senior revolving credit facility with a five‑year term, led by Bank of America and other arrangers. The company used the initial draw to repay $69.7 million that was outstanding under its prior credit agreement. It said the new facility will fund working capital, future acquisitions and dividend payments. Shares jumped 7.7% intraday and closed 7.2% higher at $327.05.
Why it matters
The new facility gives Watsco greater borrowing capacity and covenant flexibility, supporting its growth strategy and shareholder returns. The market reacted positively, lifting the stock price by more than 7% on the day of the announcement.
Key facts
- 1Watsco secured a $750 million unsecured five‑year revolving credit facility. tradingview.com
- 2The facility was led by Bank of America alongside other arrangers. finance.yahoo.com
- 3Watsco used the initial draw to repay $69.7 million outstanding under a prior credit agreement. tradingview.com
- 4The company said the facility will be used for working capital, acquisitions and dividends. finance.yahoo.com
- 5Shares rose 7.7% in the afternoon session after the announcement. finance.yahoo.com
- 6Shares closed at $327.05, up 7.2% from the previous close. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.