Company: LGN
Filing Date: 2025-09-02
Form Type: S-1/A
Source: 0001193125-25-193346
Chunk: 149

Company: Legence Corp.
Filing Date: 2025-09-02
Form: S-1/A
Chunk 149
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 Facility having an original aggregate principal amount of $390.0 million, (b) the Delayed Draw Term Loan Credit Facility having an original aggregate principal amount of $75.0 million and (c) the Revolving Credit Facility having an original aggregate commitment amount of $65.0 million. The obligations under the Credit Agreement are secured by substantially all assets of Legence Holdings and its subsidiaries, subject to customary exclusions. The Term Loan Credit Facility and the Delayed Draw Term Loan Credit Facility mature on December 16, 2028, and the Revolving Credit Facility matures on December 16, 2026. Legence Holdings can elect for borrowings of term loans (including delayed draw term loans) to be classified as either SOFR loans or base rate loans. SOFR loans bear interest at a rate equal to SOFR plus a 109

margin of either 2.75%, 3.00% or 3.25%, which margin is determined based on the company’s most recently reported Consolidated First Lien Net Leverage Ratio (the “First Lien Net
Leverage Ratio”), generally defined as the ratio of first lien secured indebtedness (net of cash) to consolidated pro forma adjusted EBITDA for the preceding four fiscal quarters. SOFR loans are subject to a floor of 0.75%. Interest on SOFR
loans is payable (a) based on the selected interest period if such interest period is less than three months or (b) quarterly if the selected interest period is three months or longer. Base rate loans bear interest at a rate equal to either
1.75%, 2.00% or 2.25%, which margin is determined based on the company’s most recently reported First Lien Net Leverage Ratio, plus the base rate, which is equal to the greater of (a) the federal funds rate plus 0.50%, (b) the prime rate
and (c) one-month SOFR plus 1.00%. Interest on base rate loans is payable quarterly. Our First Lien Net Leverage Ratio was 5.77, 6.06, 4.43 and 5.94 as of June 30, 2025, December 31, 2024,
December 31, 2023 and December 31, 2022, respectively. Our consolidated pro forma adjusted EBITDA, as defined in the Credit Agreement, was $257.3 million, $248.9 million, $214.