Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 138

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 138
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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.

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.

93

On September 8, 2025, Legence Holdings and certain of its subsidiaries amended the
Credit Agreement to, among other things, facilitate the 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 entered into Amendment No. 11 to the Credit Agreement to,
among other things, refinance and replace the previously existing (i) $797.8 million term loan facility with a $797.8 million term loan facility that extends the maturity date by three years to December 16, 2031 and reduces its
applicable interest rate by 0.25% 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
approximately four years to September 22, 2030 and sets its applicable interest rate at SOFR plus 2.25%, in alignment with the replacement term loan credit facility.

The Company may also be required to make additional principal payments based on its excess cash flow, as defined in the agreement.

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.

The Credit Agreement contains a springing financial maintenance covenant solely for the benefit of
the Revolving Credit Facility that requires the First Lien Net Leverage Ratio not to exceed 8.50 to 1.00. The Credit Agreement generally defines this as the ratio of first lien secured indebtedness (net of cash)