Core & Main, Inc. 8-K

What Happened

• On April 9, 2026, Core & Main LP (an indirect wholly owned subsidiary of Core & Main, Inc.) entered into Amendment No. 6 to its existing ABL Credit Agreement (originally dated August 1, 2017). The amendment extends the maturity of the $1,250 million aggregate ABL commitments to April 9, 2031, replaces Citibank, N.A. as administrative and collateral agent with Wells Fargo Bank, N.A., and includes other amendments to covenants and related provisions. The amendment also includes a provision that, if certain other existing indebtedness remains outstanding 91 days before April 9, 2031, the commitments will mature earlier on that prior date.

Key Details

• Amendment date: April 9, 2026; amended maturity date: April 9, 2031.
• Size of facility: $1,250 million aggregate ABL commitments.
• Administrative agent change: Citibank, N.A. (resigning agent) → Wells Fargo Bank, N.A. (successor agent).
• Amendment authorizes certain covenant changes and permits authorized officers to make other necessary or appropriate amendments.

Why It Matters

• Extending the ABL maturity pushes out the company’s near‑term debt maturity profile and preserves liquidity availability under a $1.25B committed facility through 2031 (subject to the noted earlier‑maturity condition), which is material for investors assessing financing and cash‑flow flexibility.
• Changes to covenants and the administrative agent may affect lending terms, monitoring, and relationships with banks; investors should review future filings for the full covenant language, pricing, and any operational impacts.