BrightView Holdings Enters Material Definitive Agreement

TL;DR

BV enters major deal, details TBD.

AI Summary

On June 27, 2024, BrightView Holdings, Inc. entered into a Material Definitive Agreement. The filing does not disclose specific details of the agreement, such as the other party involved or any financial figures, but indicates it is a significant event for the company.

Why It Matters

This filing signals a significant development for BrightView Holdings, Inc., potentially impacting its business operations, financial standing, or strategic direction.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement, necessitating further investigation.

Key Players & Entities

• BrightView Holdings, Inc. (company) — Registrant
• June 27, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value BV New York Stock Exchange
• $275.0 million — the borrowing capacity thereunder from $275.0 million to an amount up to $325.0 million, (ii)
• $325.0 m — from $275.0 million to an amount up to $325.0 million, (ii) extend the Scheduled Termin
• $50.0 million — establish a Swingline facility of up to $50.0 million. The agents, certain of the lenders an

Filing Documents

• tm2418384d1_8k.htm (8-K) — 31KB
• tm2418384d1_ex10-1.htm (EX-10.1) — 854KB
• tm2418384d1_ex99-1.htm (EX-99.1) — 8KB
• 0001104659-24-076287.txt ( ) — 1242KB
• bv-20240627.xsd (EX-101.SCH) — 3KB
• bv-20240627_lab.xml (EX-101.LAB) — 33KB
• bv-20240627_pre.xml (EX-101.PRE) — 22KB
• tm2418384d1_8k_htm.xml (XML) — 3KB

01. Entry

Item 1.01. Entry into a Material Definitive Agreement. On June 27, 2024, BrightView Funding LLC and BrightView Landscapes, LLC, affiliates of BrightView Holdings, Inc. (the "Company"), entered into the Fifth Amendment to the Receivables Financing Agreement (the "Amendment Agreement"), which amends the Receivables Financing Agreement, dated as of April 28, 2017, by and among BrightView Funding LLC, (the "Borrower"), BrightView Landscapes, LLC, as initial servicer, PNC Bank, National Association, as administrative agent and letter of credit bank, PNC Capital Markets LLC, as structuring agent, and the persons from time to time party thereto as lenders and letter of credit participants (as amended by the First Amendment, dated as of February 21, 2019, the Second Amendment, dated as of February 21, 2021, the Third Amendment, dated as of June 22, 2022, and the Fourth Amendment, dated as of August 31, 2023, the "Receivables Financing Agreement"). Under the terms of the Amendment Agreement, the Receivables Financing Agreement was amended (as so amended, the "Amended Receivables Financing Agreement") to, among other things: (i) increase the borrowing capacity thereunder from $275.0 million to an amount up to $325.0 million, (ii) extend the Scheduled Termination Date (as defined in the Amended Receivables Financing Agreement) to June 27, 2027 and (iii) establish a Swingline facility of up to $50.0 million. The agents, certain of the lenders and certain of their respective affiliates, have provided, and in the future may provide, financial, banking and related services to the Company. These parties have received, and in the future may receive, compensation from the Company for these services. The foregoing description of the Amendment Agreement and the Amended Receivables Financing Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Amendment Agreement and the Amended Receivables Financing Agreement, which are f

01. Regulation

Item 7.01. Regulation FD Disclosure. On June 27, 2024, the Company issued a press release describing the Amendment Agreement. The press release is furnished hereto as Exhibit 99.1. This information is furnished pursuant to Item 7.01 of Form 8-K. The information in this Item 7.01 and in Exhibit 99.1 hereto shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended. The furnishing of the information in Item 7.01 is not intended to, and does not constitute a representation that such furnishing is required by Regulation FD or that the information in this Item 7.01 is material information that is not otherwise publicly available.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit Number Description 10.1 Fifth Amendment to the Receivables Financing Agreement, including Exhibit A thereto, a marked version of the Receivables Financing Agreement, dated as of June 27, 2024, by and among BrightView Funding LLC, as borrower, BrightView Landscapes, LLC, as initial servicer, and PNC Bank, National Association, as lender, letter of credit bank, letter of credit participant and administrative agent. 99.1 Press Release of BrightView Holdings, Inc., dated June 27, 2024. 104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document).

Signatures

Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BrightView Holdings, Inc. Date: June 28, 2024 By: /s/ Jonathan M. Gottsegen Name: Jonathan M. Gottsegen Title: Executive Vice President, Chief Legal Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR