Core & Main, Inc. 8-K

What Happened Core & Main, Inc. (through subsidiary Core & Main LP) announced on July 1, 2026 that it issued $750 million aggregate principal of 6.000% Senior Notes due July 1, 2034. The notes pay interest semiannually beginning January 1, 2027 and are guaranteed on an unsecured senior basis by Core & Main Midco, LLC, Core & Main Intermediate GP, LLC and certain future domestic subsidiaries. The company also entered a Sixth Amendment to its term loan agreement on July 1, 2026 that refinances the remaining 2028 Senior Term Loan with a new $800 million senior term loan maturing July 1, 2033.

Key Details

• Notes: $750 million principal; 6.000% interest per annum; semiannual payments on Jan 1 and July 1; maturity July 1, 2034; issued July 1, 2026.
• Sale: Offered to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S (not registered under the Securities Act).
• Use of proceeds: To prepay a portion of the 2028 Senior Term Loan and for general corporate purposes (organic investment, M&A, share repurchases, other capital allocation).
• Term loan amendment: New $800 million senior term loan (the “2033 Senior Term Loan”) maturing July 1, 2033; interest = Term SOFR + 1.75% (or alternate base rate + 0.75%) with a 0.00% SOFR floor; principal amortization equals quarterly payments based on 1% per annum of original principal with unpaid balance due at maturity; 1% prepayment premium for voluntary prepayments within first six months.

Why It Matters This filing shows Core & Main is reshaping its debt profile: raising long‑dated unsecured debt (2034 notes) and extending secured term debt maturity to 2033. For investors, that generally means liquidity and refinancing risk are pushed farther into the future, but interest expense and leverage implications depend on how much of the old term loan is prepaid and the company’s use of the remaining proceeds. Key items to watch in future reports: total debt levels, interest costs, and any material uses of proceeds such as acquisitions or share buybacks.