Watsco secures $750 million five-year credit facility with Bank of America-led syndicate
WSO•Watsco entered a $750 million unsecured syndicated multicurrency credit agreement maturing October 21, 2031, replacing its $600 million revolving facility. An initial $69.7 million borrowing repaid the prior facility’s outstanding borrowings, and the agreement allows up to $375 million in additional revolving increases or term loans.
1. Facility terms
Watsco entered the credit agreement on October 21, 2026, with Bank of America as administrative agent. The facility replaces a $600 million revolving credit facility, which terminated without penalties after an initial $69.7 million borrowing repaid its outstanding borrowings.
2. Borrowing costs
SOFR-based borrowings carry spreads of 100 to 137.5 basis points, initially 100 basis points, depending on loan type and leverage. The agreement allows up to $375 million in incremental revolving increases or term loans.
