Sherwin-Williams Enters New Agreement, Terminates Old One
Ticker: SHW · Form: 8-K · Filed: Aug 2, 2024 · CIK: 89800
Sentiment: neutral
Topics: material-agreement, termination, financial-obligation
Related Tickers: SHW
TL;DR
SW just signed a new deal and ditched an old one, creating new financial obligations.
AI Summary
On July 31, 2024, The Sherwin-Williams Company entered into a material definitive agreement and simultaneously terminated a prior material definitive agreement. This action also created a direct financial obligation for the registrant. The filing includes financial statements and exhibits related to these events.
Why It Matters
This filing indicates a significant change in Sherwin-Williams' contractual obligations, potentially impacting its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into new material definitive agreements and terminating others can introduce financial and operational risks that require careful management.
Key Players & Entities
- The Sherwin-Williams Company (company) — Registrant
- July 31, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Sherwin-Williams?
The filing states that Sherwin-Williams entered into a material definitive agreement on July 31, 2024, but does not specify its nature in the provided text.
What was the previous material definitive agreement that was terminated?
The filing indicates the termination of a material definitive agreement on July 31, 2024, but does not provide details about the agreement itself.
What type of financial obligation was created for Sherwin-Williams?
The filing mentions the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant, but does not specify the details of the obligation.
What is Sherwin-Williams' principal executive office address?
Sherwin-Williams' principal executive offices are located at 101 West Prospect Avenue, Cleveland, Ohio, 44115.
What is Sherwin-Williams' telephone number?
Sherwin-Williams' telephone number is (216) 566-2000.
Filing Stats: 1,049 words · 4 min read · ~3 pages · Grade level 12 · Accepted 2024-08-02 07:30:59
Key Financial Figures
- $0.33 — ich registered Common Stock, par value $0.33-1/3 per share SHW New York Stock Ex
- $2.5 billion — orrowers") entered into a new five-year $2.5 billion revolving Credit Agreement (the "New Cr
- $2.5 b — ity in an aggregate principal amount of $2.5 billion, and includes an uncommitted incr
- $750 million — increase option of up to an additional $750 million exercisable upon the satisfaction of ce
- $250 million — The New Credit Agreement provides for a $250 million subfacility for the issuance of letters
Filing Documents
- d879530d8k.htm (8-K) — 31KB
- d879530dex41.htm (EX-4.1) — 731KB
- 0001193125-24-192082.txt ( ) — 1050KB
- shw-20240731.xsd (EX-101.SCH) — 3KB
- shw-20240731_lab.xml (EX-101.LAB) — 17KB
- shw-20240731_pre.xml (EX-101.PRE) — 11KB
- d879530d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K: Exhibit No. Exhibit Description 4.1 Credit Agreement, dated as of July 31, 2024, by and among The Sherwin-Williams Company, Sherwin-Williams Canada Inc. and Sherwin-Williams Luxembourg S. r.l., as borrowers, the lenders party thereto, the issuing lenders party thereto and Citibank, N.A., as administrative agent 104 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. THE SHERWIN-WILLIAMS COMPANY Date: August 2, 2024 By: /s/ Stephen J. Perisutti Name: Stephen J. Perisutti Title: Senior Vice President, Deputy General Counsel and Assistant Secretary