Ferguson Enterprises Inc. /DE/ (FERG) Form 8-K — Aug 11, 2026
Ferguson Enterprises entered into two credit agreements on August 11, 2026: an unsecured $700 million bridge term loan facility maturing 364 days after funding and an unsecured $900 million term loan facility maturing three years after funding, in each case with JPMorgan Chase Bank, N.A. as administrative agent and Ferguson UK Holdings Limited as guarantor. Proceeds of both facilities will fund a portion of the consideration and related fees for the previously disclosed acquisition of FWI Holdings, Inc. (the FloWorks Acquisition), with the bridge available only as a backstop if Ferguson has not received sufficient bank or capital markets financing before or concurrently with closing.
Key figures
- Debt Amount
- $1.6 billion total committed ($700 million bridge facility + $900 million term loan facility)
- Interest Rate
- Base Rate + 0.000%-0.250% or Term SOFR + 0.750%-1.250% (ratings-based margins); commitment fee 0.07%-0.125% on unused commitments
- Maturity Date
- Bridge: 364 days after funding date; Term loan: three years after funding date
- Bridge facility
- $700,000,000 unsecured bridge term loan
- Term loan facility
- $900,000,000 unsecured three-year term loan
- Net leverage covenant
- 3.50:1.00 maximum, with temporary step-up to 4.00:1.00 for four fiscal quarters after certain material acquisitions
- Total contemplated gross proceeds
- $1,600,000,000 from term loan, planned Firecracker Senior Notes and/or bridge borrowings
Price after filing
Close on the filing date to close N calendar days later (from $256.69). Historical, not a forecast.
AI analysis
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