Pool Corp Files 8-K: Material Agreement & Financial Obligation
Ticker: POOL · Form: 8-K · Filed: Oct 2, 2024 · CIK: 945841
| Field | Detail |
|---|---|
| Company | Pool CORP (POOL) |
| Form Type | 8-K |
| Filed Date | Oct 2, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $750.0 million, $800.0 million, $500.0 million, $250.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation
Related Tickers: POOL
TL;DR
POOL signed a big deal and owes money, details to come.
AI Summary
On October 2, 2024, Pool Corporation (POOL) entered into a material definitive agreement and created a direct financial obligation. The filing does not specify the nature of the agreement or the financial obligation, but it is categorized under Item 1.01 and Item 2.03 of the 8-K form.
Why It Matters
This filing indicates Pool Corp has entered into a significant new agreement and incurred a financial obligation, which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential financial commitments or changes that warrant closer examination.
Key Players & Entities
- POOL CORP (company) — Registrant
- October 2, 2024 (date) — Date of Report
- September 30, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Pool Corp?
The filing does not specify the details of the material definitive agreement, only that one was entered into on or before October 2, 2024.
What is the direct financial obligation created by Pool Corp?
The filing states that a direct financial obligation was created, but does not provide specific details about its nature or amount.
Under which items of the 8-K form are these events reported?
These events are reported under Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant).
When was the earliest event reported in this filing?
The earliest event reported was on September 30, 2024.
What is Pool Corp's state of incorporation and IRS number?
Pool Corp is incorporated in Delaware and its IRS Employer Identification Number is 36-3943363.
Filing Stats: 1,089 words · 4 min read · ~4 pages · Grade level 13.2 · Accepted 2024-10-02 16:12:55
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share POOL Nasdaq Global Select Mar
- $750.0 million — increasing its borrowing capacity from $750.0 million to $800.0 million and extending its mat
- $800.0 million — rrowing capacity from $750.0 million to $800.0 million and extending its maturity date from Se
- $500.0 million — cessor credit agreement, including: a $500.0 million term loan facility; an accordion featu
- $250.0 million — dit facility commitment increases up to $250.0 million; an option permitting the Company to e
- $125.0 million — 2026. At September 30, 2024, there was $125.0 million of revolving borrowings outstanding, a
- $468.8 million — of revolving borrowings outstanding, a $468.8 million term loan, $15.1 million of standby let
- $15.1 million — utstanding, a $468.8 million term loan, $15.1 million of standby letters of credit outstandin
- $659.9 million — andby letters of credit outstanding and $659.9 million available for borrowing under the Amend
Filing Documents
- pool-20241002.htm (8-K) — 31KB
- thirdamendedandrestatedcre.htm (EX-10.1) — 1562KB
- 0000945841-24-000149.txt ( ) — 1951KB
- pool-20241002.xsd (EX-101.SCH) — 3KB
- pool-20241002_lab.xml (EX-101.LAB) — 22KB
- pool-20241002_pre.xml (EX-101.PRE) — 12KB
- pool-20241002_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. Third Amended and Restated Credit Agreement On September 30, 2024, Pool Corporation (the "Company") entered into the Third Amended and Restated Credit Agreement (the "Amended Agreement") by and among Pool Corporation, as U.S. Borrower, SCP Distributors Canada Inc., as Canadian Borrower, SCP International, Inc., as Euro Borrower, Wells Fargo Bank, National Association, as Administrative Agent, and certain other lenders party thereto. The Amended Agreement amends and restates the terms of the Company's predecessor revolving credit facility principally by increasing its borrowing capacity from $750.0 million to $800.0 million and extending its maturity date from September 25, 2026 to September 30, 2029. Otherwise, the Amended Agreement retains the core features of the predecessor credit agreement, including: a $500.0 million term loan facility; an accordion feature permitting the Company to request one or more incremental term loans or revolving credit facility commitment increases up to $250.0 million; an option permitting the Company to extend the maturity date of the revolving credit facility up to two years, subject to various conditions and restrictions; and sublimits for the issuance of swingline loans and standby letters of credit. Revolving and term loan borrowings under the Amended Agreement continue to bear interest at a variable rate based on a one-month term secured overnight financing rate, plus an applicable margin. The Company's term loan under the Amended Agreement continues to require quarterly amortization payments, with all remaining principal due on the term loan maturity date of September 25, 2026. At September 30, 2024, there was $125.0 million of revolving borrowings outstanding, a $468.8 million term loan, $15.1 million of standby letters of credit outstanding and $659.9 million available for borrowing under the Amended Agreement's revolving credit facility. Substantially all o
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Third Amended and Restated Credit Agreement, dated September 30, 2024, among Pool Corporation as U.S. Borrower, SCP Distributors Canada Inc. as Canadian Borrower, SCP International, Inc. as Euro Borrower, Wells Fargo Bank, National Association, as Administrative Agent, and certain other lenders party thereto. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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. POOL CORPORATION By: /s/ Melanie Housey Hart Melanie Housey Hart Vice President and Chief Financial Officer Dated: October 2, 2024