Summary
This 8-K filing from The Sherwin-Williams Company, dated August 28, 2007, primarily announces the establishment of a new five-year credit facility. The company has entered into a Credit Agreement with Citicorp USA, Inc. as the administrative agent, allowing for aggregate availability of up to $50 million through a Security Letter of Credit. This facility is designed to support the issuance of letters of credit under a separate Agreement for Letter of Credit with Citibank, N.A.
Key Highlights
- 1Sherwin-Williams entered into a Five Year Credit Agreement on August 28, 2007.
- 2The agreement provides for an aggregate availability of up to $50 million.
- 3The facility is structured around a Security Letter of Credit issued under the Credit Agreement.
- 4A separate Agreement for Letter of Credit was established with Citibank, N.A. to utilize the Security Letter of Credit.
- 5No borrowings have been made, and no letters of credit have been issued as of the filing date.
- 6The Credit Agreement appoints Citicorp USA, Inc. as the administrative agent and issuing bank.
- 7The Bank of New York is designated as the paying agent.