The Sherwin-Williams Company (NYSE:SHW) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
On February27, 2017, The Sherwin-Williams Company
(Sherwin-Williams) entered into that certain Amendment No.6 to
the Credit Agreement (Amendment No.6) with Citicorp USA, Inc.
(CUSA), as administrative agent and issuing bank, and the lenders
party thereto. Amendment No.6 amends the Credit Agreement, dated
as of May9, 2016 (as amended, the Credit Agreement), among
Sherwin-Williams, CUSA, as administrative agent and issuing bank,
and the lenders party thereto. The primary purpose of Amendment
No.6 is to increase the amount available for borrowing and
obtaining the issuance, renewal, extension and increase of a
revolving letter of credit by $50,000,000 up to an aggregate
availability of $350,000,000.
Certain of the lenders, as well as certain of their respective
affiliates, have performed and may in the future perform for
Sherwin-Williams and its subsidiaries, various commercial
banking, investment banking, lending, underwriting, trust
services, financial advisory and other financial services, for
which they have received and may in the future receive customary
fees and expenses.
The foregoing description of Amendment No.6 does not purport to
be complete and is qualified in its entirety by reference to the
full text of Amendment No.6, a copy of which is filed as Exhibit
4.1 to this Current Report on Form 8-K and is incorporated herein
by reference.
| Item2.03. |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information described in Item1.01 above relating to Amendment
No.6 is incorporated herein by reference into this Item2.03.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
The following exhibit is filed with this Current Report on Form
8-K:
|
ExhibitNo. |
Exhibit Description |
|
| 4.1 |
Amendment No. 6 to the Credit Agreement, dated as of February 27, 2017, by and among The Sherwin-Williams Company, Citicorp USA, Inc., as administrative agent and issuing bank, and the lenders party thereto. |
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About The Sherwin-Williams Company (NYSE:SHW)
The Sherwin-Williams Company is engaged in the development, manufacture, distribution and sale of paint, coatings and related products. The Company has four operating segments: Paint Stores Group, Consumer Group, Global Finishes Group and Latin America Coatings Group. The Paint Stores Group markets and sells architectural paint and coatings, protective and marine products, original equipment manufacturer (OEM) product finishes and related items. The Consumer Group develops, manufactures and distributes a range of paint, coatings and related products to third party customers. The Global Finishes Group develops, licenses, manufactures, distributes and sells a range of protective and marine products, automotive finishes and refinished products, and OEM product finishes, among others. The Latin America Coatings Group develops, licenses, manufactures, distributes and sells a range of architectural paint and coatings, protective and marine products, and OEM product finishes, among others. The Sherwin-Williams Company (NYSE:SHW) Recent Trading Information
The Sherwin-Williams Company (NYSE:SHW) closed its last trading session down -0.97 at 311.48 with 488,089 shares trading hands.
