UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): July 12, 2023 (
(Exact name of registrant as specified in its charter)
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| Item 1.01. | Entry into a Material Definitive Agreement. |
SiteOne Landscape Supply, Inc. (the “Company”) announced that its subsidiary, SiteOne Landscape Supply Holding, LLC (“Holding”), has entered into the Increase Supplement, dated as of July 12, 2023 (the “Increase Supplement”), by and between Holding, as borrower representative, and JPMorgan Chase Bank, N.A., as increasing lender (the “Increasing Lender”), to the Second Amended and Restated Credit Agreement, dated as of March 23, 2021 (as amended prior to July 12, 2023, the “Existing Credit Agreement”, and as amended by the Increase Supplement, the “Credit Agreement”), among Holding and SiteOne Landscape Supply, LLC, as borrowers, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the several banks and other financial institutions party thereto. The Increase Supplement provides for an additional $120 million of Initial Term Loans (as used herein, as defined in the Credit Agreement) and makes such other changes to the Existing Credit Agreement as agreed between Holding and the Increasing Lender. Proceeds of the Initial Term Loans borrowed pursuant to the Increase Supplement will be used, among other things, to (i) repay certain loans outstanding under the Senior ABL Facility (as defined in the Credit Agreement) and (ii) pay fees and expenses related to the Increase Supplement. After giving effect to the borrowing of Initial Term Loans pursuant to the Increase Supplement, the aggregate principal amount of the Initial Term Loans outstanding under the Credit Agreement on July 12, 2023 is $372 million.
The foregoing summary is qualified in its entirety by reference to the text of the Increase Supplement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information contained in Item 1.01 concerning the Company’s direct financial obligations under the Increase Supplement and the Credit Agreement is hereby incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) Exhibits |
| Exhibit No. | Description | |
| 10.1 | Increase Supplement, dated as of July 12, 2023, by and between SiteOne Landscape Supply Holding, LLC and JPMorgan Chase Bank, N.A., as increasing lender. | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SITEONE LANDSCAPE SUPPLY, INC. | |||
| By: | /s/ Briley Brisendine | ||
| Name: | Briley Brisendine | ||
| Title: | Executive Vice President, General Counsel and Secretary | ||
Date: July 12, 2023