POOL CORPORATION Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by POOL CORPORATION on October 31, 2016, reporting events that occurred on October 28, 2016. The filing details amendments to the company's existing Receivables Purchase Agreement involving its securitization subsidiary, Superior Commerce LLC.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, or margins. The primary financial data disclosed relates to the company's credit facility:
- Maximum Facility Limit: Increased to $220,000,000 for the months of May and June.
- Facility Termination Date: Extended to October 29, 2018.
- Base Facility Limits: Subject to amendments (specific figures not detailed in the summary text).
Material Changes
The material change reported is the execution of Amendment No. 6 to the Receivables Purchase Agreement. This amendment extends the life of the facility and increases the borrowing capacity during peak seasonal months (May and June). The agreement involves The Bank of Tokyo-Mitsubishi UFJ, Ltd., and Wells Fargo Bank, National Association, as co-agents.
Outlook, Risks, and Management Commentary
Management commentary is limited to the confirmation that the amended agreement contains customary terms, representations, covenants, and conditions precedent. The filing notes that the company engages in ordinary course business with parties to the agreement for banking and investment services, paying customary fees. No specific forward-looking guidance, risk factors, or unusual items are disclosed in this report.
Investor Verification Checklist
- Review Exhibit 10.1 (Amendment No. 6) for specific details on the amended base facility limits.
- Verify the impact of the increased May/June facility limit on seasonal liquidity management.
- Confirm the status of the facility termination date extension to October 29, 2018.
- Check for any associated fees or costs related to the amendment in subsequent filings.