Business Context and Reporting Period
Company: POOL CORPORATION
Filing Type: Form 8-K (Current Report)
Date of Report: September 1, 2017
Event Date: August 31, 2017
Context: The Company entered into a material definitive agreement to amend its existing Receivables Purchase Agreement.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or general debt levels. It specifically addresses a change in the Company's liquidity facility limits:
- Receivables Purchase Agreement Base Facility Limit (September 2017): Increased to $145,000,000.
- Receivables Purchase Agreement Base Facility Limit (October 2017): Increased to $125,000,000.
- Parties Involved: Superior Commerce LLC (Seller), SCP Distributors LLC (Servicer), The Bank of Tokyo-Mitsubishi UFJ, Ltd. (Co-Agent), and Wells Fargo Bank, National Association (Administrative Agent).
Material Changes Versus Prior Period
The primary material change is the amendment of the Receivables Purchase Agreement to increase the base facility limit for the months of September and October 2017. The filing does not provide the specific prior facility limits for comparison, only the new amended amounts.
Guidance, Outlook, and Risks
Management Commentary: The Company noted that the amended agreement contains terms and conditions customary for transactions of this type. The Company also stated that it engages, and may continue to engage, parties to the agreement or their affiliates for commercial banking, investment banking, and other services for which customary fees and commissions are paid.
Risks and Contingencies: No specific new risks or contingencies were disclosed in this filing beyond the standard terms of the amended agreement.
Guidance: No financial guidance or outlook was provided in this filing.
Important Facts for Investor Verification
- Verify the specific terms of the amendment in Exhibit 10.1 (Amendment No. 7 to the Receivables Purchase Agreement).
- Confirm the impact of the increased facility limits on the Company's overall liquidity position and working capital management.
- Review the customary fees and commissions associated with the banking services provided by the agents and purchasers under the agreement.
- Note that this filing does not contain updated financial statements or operational results for the period.