Company: LGN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0002052568-25-000018
Chunk: 184

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 184
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 of the term loan, which had a net zero impact on cash flows from financing activities.

Debt 

The ensuing discussion is not a complete description of all of the terms of our significant debt instruments. Please refer to “Note 7—Debt” and “Note 17—Related Party Transactions” in Notes to Condensed Consolidated Financial Statements included in "Item 1. Financial Statements" for further information. 

Credit Agreement 

On December 16, 2020, Legence Intermediate and Legence Holdings entered into that certain credit agreement, by and among, Legence Intermediate, as holdings, Legence Holdings, as the borrower, the guarantors from time to time party thereto, Jefferies Finance LLC, as administrative agent and the other parties from time to time party thereto (as amended from time to time, the “Credit Agreement”), which provided for (a) a term loan credit facility, (b) a delayed draw term loan credit facility and (c) a revolving credit facility. The obligations under the Credit Agreement are secured by substantially all assets of Legence Holdings and its subsidiaries, subject to customary exclusions. 

On February 6, 2025, the Credit Agreement was amended to, among other things, reduce the interest rate and extend the maturity date of the term loan from December 16, 2027, to December 16, 2028. 

On September 8, 2025, Legence Holdings and certain of its subsidiaries amended the Credit Agreement to, among other things, facilitate the Corporate Reorganization.

On September 15, 2025, the Company used IPO proceeds and cash on hand to prepay $780.3 million of the term loan debt, which reduced the outstanding term loan balance to $797.8 million as of September 30, 2025. 

On October 30, 2025, Legence Holdings and certain of its subsidiaries amended the Credit Agreement (“Amendment No. 11”) to, among other things, refinance and replace the previously existing (i) $798.0 million term loan facility with a $798.0 million term loan facility that extends the maturity date by three years to December 16, 2031 and reduces its applicable interest rate by 25 basis points to the Secured Overnight Financing Rate (“SOFR”) plus 2.25% and (ii) $90.0 million revolving credit facility with a $200.0 million revolving credit facility that extends its maturity date by 

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