Hayward Holdings Inc.

06/20/2025 | Press release | Distributed by Public on 06/20/2025 05:34

Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.
Amendment No. 5 to ABL Credit Agreement
On June 18, 2025, Hayward Intermediate, Inc., a Delaware corporation ("Holdings"), Hayward Industries, Inc., a New Jersey corporation (the "US Borrower") and a wholly owned subsidiary of Hayward Holdings, Inc., a Delaware corporation (the "Company"), Hayward Pool Products Canada, Inc. / Produits De Piscines Hayward Canada, Inc., a Canadian federal corporation (the "Canadian Borrower"), Hayward Ibérica, S.L.U., a Spanish private limited liability corporation (Sociedad Limitada Unipersonal), and certain wholly owned subsidiaries of the US Borrower party thereto, each a wholly owned indirect subsidiary of the Company, entered into an amendment No. 5 to the ABL Credit Agreement (as defined below) (the "Fifth Amendment"), with Bank of America, N.A., as administrative agent and collateral agent, and the other financial institutions and lenders party thereto, which amended the ABL credit agreement, originally dated as of August 4, 2017, by and among the US Borrower, the Canadian Borrower, Holdings, certain wholly owned subsidiaries of the US Borrower party thereto from time to time, Bank of America, N.A., as administrative agent and collateral agent, and the other financial institutions party thereto from time to time (as amended prior to June 18, 2025, the "ABL Credit Agreement"). The Fifth Amendment provides for, among other things, an extension of the maturity date of the revolving facility under the ABL Credit Agreement to February 25, 2028, the removal of the 10 basis points credit spread adjustment previously applicable to Secured Overnight Financing Rate borrowings, and the removal of the first-in, last-out subfacility.
The foregoing summary of the Fifth Amendment is subject to, and qualified in its entirety by, the full text of the Fifth Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
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