Ferguson PLC Ferguson Increases Liquidity by $800 Million (7996C)

TIDMFERG

RNS Number : 7996C

Ferguson PLC

13 October 2022

Ferguson Completes New Term Loan and Increases Liquidity by $800 Million

Wokingham, England -October 13, 2022- Ferguson plc (NYSE: FERG; LSE: FERG) today announced a series of financing transactions to increase its liquidity by $800 million. The additional liquidity will be used for general corporate purposes.

The financing transactions include:

1. A new $500 million syndicated three-year bank Term Loan Credit Facility, which matures in October 2025.

2. Increasing our existing Receivables Securitization Facility by $300 million, from $0.8 billion to $1.1 billion, and extending the Facility through October 2025.

3. Increasing our existing Revolving Credit Facility by $250 million, from $1.1 billion to $1.35 billion, which matures in March 2026.

4. Reducing our existing 364-day bilateral Revolving Facility by $250 million, from $500 million to $250 million, which matures in March 2023.

"This additional liquidity demonstrates the continued confidence in our business model and provides additional flexibility to continue to invest in our capital priorities," said Bill Brundage, Ferguson CFO.

About Ferguson

Ferguson plc (NYSE: FERG; LSE: FERG) is a leading value-added distributor in North America providing expertise, solutions and products from infrastructure, plumbing and appliances to HVAC, fire, fabrication and more. We exist to make our customers' complex projects simple, successful and sustainable. Ferguson is headquartered in the U.K., with its operations and associates solely focused on North America and managed from Newport News, Virginia. For more information, please visit www.fergusonplc.com or follow us on LinkedIn https://www.linkedin.com/company/ferguson-enterprises .

For further information please contact:

 
 Investor Inquiries                       Media Inquiries 
 Brian Lantz                              John Pappas 
  Vice President, IR and Communications    Director, Financial Communications 
  Ferguson                                 Ferguson 
  [phone]                          [phone] 
  [e-mail]                 [e-mail] 
 
   Pete Kennedy                             Jonathan Doorley 
   Director, Investor Relations             Partner 
   Ferguson                                 Brunswick 
   [phone]                          [phone] 
   [e-mail]               [e-mail] 
 
                                            Rebecca Kral 
                                            Director 
                                            Brunswick 
                                            [phone] 
                                            [e-mail] 
 

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October 13, 2022 06:45 ET (10:45 GMT)