On December 22,
2021, Masco Corporation (the “Company”) entered into Amendment No. 1 (“Amendment No. 1”) to its existing Credit
Agreement dated as of March 13, 2019 among Masco and Masco Europe S.à r.l., as borrowers, the lenders party thereto and JPMorgan
Chase Bank, N.A., as Administrative Agent (the “Credit Agreement” and as amended by Amendment No. 1, the “Amended Credit
Pursuant to Amendment
No. 1, the Credit Agreement was amended to (i) expand the “Agreed Currencies” for which loans thereunder may be denominated
outside of the swingline facility to include British Pounds Sterling and Canadian Dollars, together with their applicable interest rate
benchmark, (ii) replace the London Interbank Offering Rate (“LIB OR”) with the Euro Interbank Offered Rate (“EURIBOR”)
as the interest rate benchmark for purposes of loans denominated in Euros and (iii) provide mechanics for the replacement of a benchmark
for an applicable Agreed Currency upon the occurrence of certain specified events. Under the Amended Credit Agreement, the replacement
reference interest rate benchmark for loans denominated in U.S. dollars upon the eventual discontinuation of LIBOR will have a benchmark
adjustment applied based on its historical relationship to LIBOR, which can be either the term Secured Overnight Financing Rate (“SOFR”)
plus a spread, daily simple SOFR plus a spread, or another alternative interest rate index selected by the Administrative Agent and the
summary of the Amended Credit Agreement is qualified in its entirety by the Amended Credit Agreement, which is attached hereto as Exhibit
10 and incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.
contained under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Amendment No. 1 to Credit Agreement, dated as of December 22, 2021, among Masco Corporation and Masco Europe S.à r.l., as borrowers, the lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent
Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
/s/ John G. Sznewajs
John G. Sznewajs
Vice President, Chief Financial Officer
Dated: December 22, 2021
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