Willscot Holdings Corporation

10/17/2025 | Press release | Distributed by Public on 10/17/2025 06:47

Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement
On October 16, 2025 (the "Effective Date"), Williams Scotsman, Inc. ("WSI"), a wholly-owned subsidiary of WillScot Holdings Corporation (the "Company"), and certain other subsidiaries of the Company (together with WSI, the "Loan Parties") entered into a Seventh Amendment to the ABL Credit Agreement, dated as of the Effective Date (the "Amendment"), with the Lenders (as defined below) party thereto and Bank of America, N.A., as administrative agent and collateral agent (in such capacities, the "Agent"), which amends that certain ABL Credit Agreement, dated as of July 1, 2020 (as amended from time to time prior to the Effective Date, the "Existing Credit Agreement", and as further amended by the Amendment, the "Credit Agreement"), by and among the Loan Parties, the other borrowers and guarantors from time to time party thereto, the lenders from time to time party thereto (the "Lenders") and the Agent.
The Amendment amends the Existing Credit Agreement to, among other things, (i) extend the expiration date of the revolving credit facilities under the Credit Agreement to October 16, 2030; (ii) reduce the interest rate spreads above (x) the Term SOFR- and Term CORRA-based rates to no more than 137.5 basis points and (y) the base rate and Canadian prime rate to no more than 37.5 basis points; (iii) remove interest rate adjustments to the reference rates under the Credit Agreement; (iv) remove Daily Simple CORRA, which was operative solely prior to the phase-in of Term CORRA, from the available interest rates; (v) reduce the aggregate principal amount of revolving credit facilities under the Credit Agreement from $3.7 billion to $3.0 billion to reduce undrawn line fees; (vi) increase capacity available under the revolving credit facilities' accordion feature from $750.0 million to $1.0 billion (or, in each case, such larger amount by which the borrowing base may exceed the revolving commitments under the Credit Agreement from time to time); and (vii) remove United Kingdom commitments and other United Kingdom-related provisions due to the lack of any borrowers organized in the United Kingdom.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1, and incorporated herein by reference.
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