UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Item 1.01Entry into a Material Definitive Agreement.
On March 8, 2021, TopBuild Corp., a Delaware corporation (the “Company”), together with certain of its subsidiaries, Bank of America, N.A., in its capacity of administrative agent for the lenders, and each of the lenders party thereto (the “Lenders”), entered into Amendment No. 1 (the “Amendment”) to the Company’s amended and restated credit agreement, dated March 20, 2020 (the “Credit Agreement”) filed as Exhibit 10.1 to the Form 8-K dated March 23, 2020.
Pursuant to the Amendment, (i) the maturity date of both the revolving and term loan facilities under the Credit Agreement has been extended to March 20, 2026, (ii) the floor for base rate loans has been reduced from 1.5% to 1.0%, (iii) the floor for Eurodollar rate loans has been reduced from 0.5% to 0.0%, (iv) the Lenders re-advanced to the Company an aggregate amount equal to $11.25 million as part of the term loan under the Credit Agreement, such that the aggregate outstanding principal amount of the term loan is $300.0 million, which equals the original principal amount of such term loan as of the original date of the Credit Agreement (and the related amortization schedule has been reset accordingly, additionally taking into account the extended maturity date) and (v) additional provision has been made for the eventual replacement of LIBOR with the secured overnight financing rate.
Except as described in this Current Report on Form 8-K, the material terms of the Credit Agreement remain unchanged.
The foregoing description of the Amendment is only a summary and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference in this Item 1.01.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit |
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10.1 | Amendment No. 1 to Amended and Restated Credit Agreement, dated as of March 8, 2021 |
104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
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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.
TOPBUILD CORP. | |||
By: | /s/ John S. Peterson | ||
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| Name: | John S. Peterson |
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| Title: | Vice President and Chief Financial Officer |
Dated: March 11, 2021 |
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