Item 1.01.
|
Entry into a Material Definitive Agreement.
|
On February 27, 2018, The
Sherwin-Williams Company (Sherwin-Williams) entered into that certain Amendment No. 9 to the Credit Agreement (Amendment No. 9) with Citicorp USA, Inc. (CUSA), as administrative agent and issuing bank,
and the lenders party thereto. Amendment No. 9 amends the Credit Agreement, dated as of May 9, 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. 9 is to increase the amount available for borrowing and obtaining the issuance, renewal, extension and increase of a revolving letter of credit by $250,000,000 up to an aggregate availability
of $750,000,000, of which $200,000,000 will mature on June 20, 2021, $150,000,000 will mature on December 20, 2021, $150,000,000 will mature on June 20, 2022, and $250,000,000 will mature on December 20, 2022.
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. 9 does not purport to be complete and is qualified in its entirety by reference to the
full text of Amendment No. 9, a copy of which is filed as Exhibit 4.1 to this Current Report on Form
8-K
and is incorporated herein by reference.