Mohawk industries, inc. enters into certain second amended and restated credit agreement
On october 18, 2019, mohawk industries, inc. entered into that certain second amended and restated credit agreement, by and among the company and certain of its subsidiaries, as borrowers, wells fargo bank, national association, as administrative agent, swing line lender, and an l/c issuer, and the other lenders party thereto (the “amended facility”), which amended and restated the company’s existing senior, unsecured revolving credit facility. the modifications effected by the amended facility included (but were not limited to) extending the maturity from march 26, 2022 to october 18, 2024, renewing the company’s option to extend the maturity of the amended facility up to two times for an additional one-year period each, reducing commitment fees, and modifying certain of the negative covenants to provide with additional flexibility, including additional flexibility to make acquisitions and incur indebtedness. the amended facility provides for a maximum of $1.8 billion of revolving credit, including limited amounts of credit in the form of letters of credit and swingline loans. the amended facility is scheduled to mature on october 18, 2024, and the company has the option to extend the maturity of the amended facility up to two times for an additional one-year period each.
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