POOL CORPORATION (NASDAQ:POOL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On October 31, 2018, Pool Corporation (the "Company") and certain of its subsidiaries amended its Receivables Purchase Agreement between Superior Commerce LLC (the "Securitization Subsidiary"), as Seller, SCP Distributors LLC, as the Servicer, the purchasers from time to time party thereto (the "Purchasers"), MUFG Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.), as the Victory Group Co-Agent, Bank of America, N.A., as the BAML Group Co-Agent, and Wells Fargo Bank, National Association, as the Wells Group Co-Agent and as Administrative Agent (as amended, the "Amended Receivables Purchase Agreement") to extend the facility termination date to October 30, 2020 and to increase the facility limit throughout the year with a maximum facility limit of $295,000,000 in the month of May.
The Amended Receivables Purchase Agreement contains terms and conditions (including representations, covenants and conditions precedent) customary for transactions of this type.
In the ordinary course of business, the Company and its affiliates have engaged, and may in the future engage, certain parties to the Receivables Purchase Agreement or the affiliates of such parties to provide commercial banking, investment banking, and other services for which the Company or its affiliates pay customary fees and commissions.
The description of the amendments set forth above are qualified by reference to the Amendment, which is filed as Exhibit 10.1 to this Form 8-K.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information provided in Item 1.01 above is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
Amendment No. 9 to the Receivables Purchase Agreement, dated October 31, 2018, among Superior Commerce LLC, as Seller, SCP Distributors LLC, as the Servicer, the Purchasers from time to time thereto, MUFG Bank, Ltd. (f/k/a The Bank of Tokyo-Mitsubishi UFJ, Ltd.), as the Victory Group Co-Agent, Bank of America, N.A., as the BAML Group Co-Agent, and Wells Fargo Bank, National Association, as the Wells Group Co-Agent and as Administrative Agent
POOL CORP ExhibitEX-10.1 2 amendmentno9toreceivabespu.htm POOL AMENDMENT 9 TO RPA Exhibit Exhibit 10.1Execution VersionAMENDMENT NO. 9 TO RECEIVABLES PURCHASE AGREEMENTTHIS AMENDMENT NO. 9 TO RECEIVABLES PURCHASE AGREEMENT (this “Amendment”),…To view the full exhibit click
About POOL CORPORATION (NASDAQ:POOL)
Pool Corporation is a distributor of swimming pool supplies, equipment and related leisure products. The Company is also a distributor of irrigation and landscape products in the United States. The Company operates over 340 sales centers in North America, Europe, South America and Australia through its over four distribution networks, such as SCP Distributors (SCP), Superior Pool Products (Superior), Horizon Distributors (Horizon) and National Pool Tile (NPT). The Company’s product offerings include building materials used for pool construction, installations and remodeling, such as concrete and pool surfacing and decking materials. The Company’s products also include maintenance products, repair and replacement parts for pool equipment, packaged pool kits, pool equipment and components for pool construction, and irrigation and landscape products, among others. The Company offers its customers over 160,000 national brand and Pool Corporation branded products.