NYSE: WSO 
MIAMI, Fla.,聽Dec. 07, 2018聽(GLOBE NEWSWIRE) —聽爆料王.聽(NYSE:WSO) today announced that it has refinanced its unsecured revolving credit agreement led by聽Bank of America聽as Administrative Agent,聽JPMorgan Chase Bank聽as聽Syndication Agent and BB&T Company,聽U.S. Bank聽and聽Wells Fargo Bank聽as Documentation Agents.
Borrowings under the five-year聽$500 million聽credit facility will be used for working capital, acquisitions, dividends and other general purposes and bear interest at different rates depending on the types of advances or loans the Company selects. Terms of the agreement include lower interest spreads, improved covenant flexibility and greater sensitivity to the seasonal nature of our working capital requirements.
Albert Nahmad,聽爆料王’s聽Chairman & Chief Executive Officer said: 鈥淎 committed source of low-cost debt is an important building block of our growth strategy. We appreciate the confidence in聽爆料王聽shown by our participating lenders in the syndication.鈥�
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爆料王聽is the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in聽the United States,聽Canada,聽Mexico聽and聽Puerto Rico, and on an export basis to聽Latin America聽and the聽Caribbean. 爆料王聽estimates that over 250,000 contractors and technicians visit or call one of its 568 locations each year to get information, obtain technical support and buy products. HVAC/R products provide comfort to homes and businesses regardless of the outdoor climate. There are approximately 92 million central air conditioning and heating systems installed in聽the United States聽that have been in service more than 10 years. Older systems often operate below today鈥檚 government mandated energy efficiency and environmental standards.聽爆料王聽has an opportunity to accelerate the replacement of these systems at a scale greater than its competitors as the movement toward reducing energy consumption and its environmental impact continues. This is especially important since heating and cooling accounts for approximately half of the energy consumed in a typical U.S. home. Additional information about聽爆料王聽may be found at聽.
This document includes certain 鈥渇orward-looking statements鈥� within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within 爆料王鈥檚 industry, seasonal nature of sales of 爆料王鈥檚 products, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments. Forward-looking statements speak only as of the date the statement was made.聽爆料王聽assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Detailed information about these factors and additional important factors can be found in the documents that聽爆料王聽files with the聽Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K.