Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 332

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 332
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|:--|-------------:|:--|
| Term loan                                           |     | $ | 1,582,132 |   |     | $ |    1,590,350 |   |
| Notes payable                                       |     |   |    29,976 |   |     |   |       27,083 |   |
| Finance lease liabilities                           |     |   |     8,689 |   |     |   |        7,216 |   |
| Total debt                                          |     |   | 1,620,797 |   |     |   |    1,624,649 |   |
| Less: Current portion                               |     |   |   (26,149 | ) |     |   |      (22,984 | ) |
| Less: Unamortized debt issuance costs and discounts |     |   |   (13,879 | ) |     |   |      (15,819 | ) |
| Long-term debt, net of current portion              |     | $ | 1,580,769 |   |     | $ |    1,585,846 |   |

Term loan The Company has a term loan agreement (as amended) with Jefferies Finance LLC as the administrative agent for a group of lenders. The term loan matures on December 16, 2028, and is secured by substantially all assets of the Company, subject to customary exclusions. A portion of the term loan is held by entities associated with the Company and BX Refficiency Aggregator LP (“Sponsor”). They are subject to the same terms described below, including interest payments, principal payments and maturity. On February 6, 2025, the term loan agreement was amended to reduce the interest rate and extend the maturity date of the term loan from December 16, 2027, to December 16, 2028. In connection with the amendment, the Company incurred $2.9 million of fees with third parties that are recognized in Credit agreement amendment fees on the Condensed Consolidated Statements of Operations during the six months ended June 30, 2025. Prior to the amendment, SOFR rate loans bore interest at SOFR plus 3.25% to 3.75% based on the Company’s Consolidated First Lien Net Leverage Ratio (the “Net Leverage Ratio”), (generally defined as the ratio of indebtedness net of cash to consolidated pro forma adjusted EBITDA for the preceding four