Sherwin-Williams Enters New Agreement, Terminates Old One

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

From the Filing

0001193125-24-192082.txt : 20240802 0001193125-24-192082.hdr.sgml : 20240802 20240802073059 ACCESSION NUMBER: 0001193125-24-192082 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240731 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240802 DATE AS OF CHANGE: 20240802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SHERWIN WILLIAMS CO CENTRAL INDEX KEY: 0000089800 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-BUILDING MATERIALS, HARDWARE, GARDEN SUPPLY [5200] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 340526850 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04851 FILM NUMBER: 241168868 BUSINESS ADDRESS: STREET 1: 101 PROSPECT AVE NW CITY: CLEVELAND STATE: OH ZIP: 44115 BUSINESS PHONE: 2165662200 MAIL ADDRESS: STREET 1: 101 PROSPECT AVE NW CITY: CLEVELAND STATE: OH ZIP: 44115 8-K 1 d879530d8k.htm 8-K 8-K SHERWIN WILLIAMS CO false 0000089800 0000089800 2024-07-31 2024-07-31     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): July 31, 2024     The Sherwin-Williams Company (Exact Name of Registrant as Specified in Charter)       Ohio   1-04851   34-0526850 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   101 West Prospect Avenue Cleveland , Ohio   44115 (Address of Principal Executive Offices)   (Zip Code) (216) 566-2000 (Registrant’s telephone number, including area code)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, par value $0.33-1/3 per share   SHW   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 1.01. Entry into a Material Definitive Agreement. On July 31, 2024, The Sherwin-Williams Company (“Sherwin-Williams”), Sherwin-Williams Canada Inc. (“SW Canada”) and Sherwin-Williams Luxembourg S.à r.l. (“SW Luxembourg,” and together with Sherwin-Williams and SW Canada, the “Borrowers”) entered into a new five-year $2.5 billion revolving Credit Agreement (the “New Credit Agreement”) with the lende