Company: LGN
Filing Date: 2025-07-15
Form Type: DRS/A
Source: 0000950123-25-006399
Chunk: 333

Company: Legence Corp.
Filing Date: 2025-07-15
Form: DRS/A
Chunk 333
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 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 three months ended March 31, 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 fiscal quarters), with a SOFR floor of 0.75%, plus a 0.10% credit spread adjustment. After
the amendment, SOFR rate loans bear interest at SOFR plus 2.75% to 3.25% with a SOFR floor of 0.75%, with no credit spread adjustment. Interest on SOFR rate loans is payable based on the selected interest period if less than three months or
quarterly if the selected interest period is three months or longer.

Prior to the amendment, base rate loans bore interest at 2.25% to 2.75% plus the
base rate, which is the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate and (c) the SOFR rate for one month plus 1.00%, plus a 0.10% credit spread adjustment. As a result of the amendment, the interest was reduced to
1.75% to 2.25% plus the base rate, with no credit spread adjustment. Interest on base rate loans is payable quarterly.

Advances under the term loan
agreement may be elected to be treated as either SOFR rate loans or base rate loans. For the three months ended March 31, 2025, the term loan was treated as a SOFR rate loan.

As of March 31, 2025, principal payments on the term loans of $4.1 million are payable quarterly, with any remaining principal balance due on
December 16, 2028. The Company may also be required to make additional principal payments based on its