PATTERSON COMPANIES, INC. (NASDAQ:PDCO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On March29, 2018, Patterson Companies, Inc. (the “Company”) entered into a Note Purchase Agreement (the “Agreement”) dated as of March29, 2018 among the Company, Patterson Dental Holdings, Inc., Patterson Dental Supply, Inc., Patterson Veterinary Supply, Inc., and Patterson Management, LP, as borrowers, and various private lenders. Under the Agreement, the Company issued fixed rate senior notes in an aggregate principal amount of $150,000,000 at an interest rate of 3.79% per annum, due March30, 2028. The proceeds from the issuance will be used to repay amounts outstanding under the Company’s 2008 senior notes and for general corporate purposes, which may include repurchases of the Company’s common stock and business or asset acquisitions. The Company is subject to various financial covenants under the Agreement including the maintenance of leverage and interest coverage ratios. In the event of a default by the Company under the Agreement, any outstanding obligations under the Agreement may become due and payable immediately. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 10 to this Current Report on Form 8-K and which is incorporated herein by reference.
| Item 1.01 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
| (a) | The information set forth in Item 1.01 above is incorporated herein by reference. |
| Item 1.01 | Financial Statements and Exhibits. |
PATTERSON COMPANIES, INC. ExhibitEX-10 2 d516987dex10.htm EX-10 EX-10 Table of Contents Exhibit 10 EXECUTION VERSION PATTERSON COMPANIES,…To view the full exhibit click here
About PATTERSON COMPANIES, INC. (NASDAQ:PDCO)
Patterson Companies, Inc. is a distributor serving the dental, veterinary and rehabilitation supply markets. The Company operates through three segments: dental supply, veterinary supply and rehabilitation supply. The dental supply segment provides a range of consumable dental products, clinical and laboratory equipment, and value-added services to dentists, dental laboratories, institutions and other dental healthcare providers across North America. The veterinary supply segment is a distributor of veterinary supplies, primarily to companion-pet (dogs, cats and other common household pets) and equine veterinary clinics. The rehabilitation supply segment provides a range of distributed and self-manufactured rehabilitation medical supplies and assistive products to acute care hospitals, long-term care facilities, rehabilitation clinics, dealers and schools. The Company’s operating units include Patterson Dental, Patterson Veterinary and Patterson Medical.