Lennox International Inc. Enters into the Third Amendment to the Sixth Amended and Restated Credit Facility Agreement with JPMorgan Chase Bank, N.A
January 25, 2019 at 11:57 am
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As of January 22, 2019, Lennox International Inc. (the Company) entered into the Third Amendment (Incremental Amendment) to the Sixth Amended and Restated Credit Facility Agreement (the Third Amendment) with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto, which further amends the Company’s Sixth Amended and Restated Credit Facility Agreement, dated August 30, 2016 (as amended, amended and restated, modified or supplemented from time to time through the date hereof, the Credit Agreement.). The Amendment provided for $350 million in additional commitments available to be drawn under the unsecured revolving credit facility (the Incremental Increase). The unsecured revolving facility after the Incremental Increase has a total availability of $1.0 billion and continues to include a subfacility for swingline loans of up to $65 million and continues to provide for the issuance of letters of credit up to $100.0 million. The loans under the Credit Agreement are either ABR (Alternative Base Rate) Loans or Eurodollar Loans. ABR Loans bear interest at the Alternate Base Rate plus the Applicable Rate. Eurodollar Loans bear interest at the Adjusted LIBO Rate (as defined below) for the applicable interest period plus the Applicable Rate. Except for the addition of a 1.0% floor applicable to ABR Loans and a 0.0% floor applicable to Eurodollar Loans, the Applicable Rates under the Credit Agreement remain unchanged. The aggregate principal amount of the term loan facility under the Credit Agreement remain unchanged. The maturity dates of both the term and revolving facilities under the Credit Agreement remain August 30, 2021.
Lennox International Inc. is a provider of climate control solutions. The Company designs, manufactures and markets a range of products for the heating, ventilation, air conditioning and refrigeration (HVACR) markets. It operates through three segments: Home Comfort Solutions, Building Climate Solutions, and Corporate and Other. Home Comfort Solutions segment manufacture and market a broad range of furnaces, air conditioners, heat pumps, packaged heating and cooling systems, indoor air quality equipment, comfort control products, replacement parts and supplies and related products. Building Climate Solutions segment manufacture and sell unitary heating and air conditioning equipment, applied systems, controls, installation and service of commercial heating and cooling equipment, variable refrigerant flow commercial products, curb, curb adapters, drop box diffusers, HVAC recycling and salvage service, condensing units, unit coolers, fluid coolers, air cooled condensers, and others.