Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 149

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 149
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 spread adjustment for borrowings of term loans or delayed draw term loans that are SOFR loans.

On July 31,
2023, Legence Holdings secured a $155.0 million incremental term loan, and the proceeds were used to fund acquisition-related payments.

On January 19, 2024, Legence Holdings secured a $125.0 million incremental term loan, and the proceeds were used to fund
acquisition-related payments.

On June 18, 2024, Legence Holdings secured a $125.0 million incremental term loan, and the proceeds
were used to fund acquisition-related payments.

108

On November 21, 2024, Legence Holdings secured a $315.0 million incremental term
loan, and the proceeds were used for general corporate purposes, including to fund a shareholder distribution and to fund acquisition-related payments, and extended the maturity date of its Revolving Credit Facility by one year from
December 16, 2025 to December 16, 2026.

On February 6, 2025, Legence Holdings amended the Credit Agreement to reduce the
interest margin applicable to borrowings of term loans or delayed draw term loans and extend the maturity date applicable to the Term Loan Credit Facility and the Delayed Draw Term Loan Credit Facility by one year from December 16, 2027 to
December 16, 2028. The amendment also removed the 0.10% credit spread adjustment applicable to borrowings of term loans that are SOFR loans.

As of June 30, 2025 and December 31, 2024, there were approximately $5.2 million in standby letters of credit outstanding, with such
letters of credit accruing fees at an annual rate equal to 3.88% and 3.75%, respectively. The remaining $84.8 million of revolving credit commitments were undrawn. There were no borrowings under the Revolving Credit Facility as of June 30,
2025, December 31, 2024 or December 31, 2023.

Under the terms of the Credit Agreement, Legence Holdings and its subsidiaries
may be able to incur substantial additional indebtedness in the future, subject to certain conditions. See “Risk Factors—Risks Related to Indebtedness—Despite our current indebtedness levels, we and our subsidiaries may still be
able to incur substantially more debt. This could further exacerbate the risks associated with our leverage.”

Pursuant to the terms
of the Credit Agreement, after