Section 1.01. Conclusion of a significant definitive agreement.
At January 27, 2022, Rollins, Inc. (“Rollins”), a Delaware Company, and certain of its subsidiaries have entered into an amendment (the “Amendment”) to an existing credit agreement (as amended, the “Credit Agreement”) with Truist Bank
in its capacity as Administrative Agent and Lender and Bank of America, North America. as a lender. Pursuant to the amendment, inter alia, (i) the lenders advanced additional term loans to Rollins for an aggregate principal amount of $252.0 millionmaturation April 29, 2024, subject to the terms of the Credit Agreement, (ii) replaced LIBOR as the benchmark interest rate for borrowings with the Bloomberg Short-Term Bank Yield Index (“BSBY”), and (iii) reset the amortization schedule for all term loans under the credit agreement. The maturity of all loans made under the credit agreement before the amendment remains unchanged at April 29, 2024 and all other terms of the Credit Agreement remain unchanged in all material respects.
As of the date hereof, the aggregate principal balance outstanding of all term loans under the Credit Agreement is $300.0 million (consisting of an outstanding principal balance of the original term loan in the amount of $48.0 million and the supplement $252.0 million term loan contracted under the Amendment).
Item 2.03. Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
The information disclosed above under item 1.01 is incorporated herein by reference.
Item 9.01. Financial statements and supporting documents.
Part # Description
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