UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.01. Entry into a Material Definitive Agreement.
On January 27, 2022, Rollins, Inc. (“Rollins”), a Delaware corporation, and certain of its subsidiaries entered into an amendment (the “Amendment”) to an existing credit agreement (as amended, the “Credit Agreement”) with Truist Bank in its capacity as Administrative Agent and as a Lender and Bank of America, N.A. as a Lender. Pursuant to the Amendment, among other matters, (i) the Lenders advanced additional term loans to Rollins in an aggregate principal amount of $252.0 million, maturing April 29, 2024, subject to the terms of the Credit Agreement, (ii) replaced LIBOR as the benchmark interest rate for borrowings with the Bloomberg Short-Term Bank Yield Index rate (“BSBY”), and (iii) reset the amortization schedule for all term loans under the Credit Agreement. The maturity of all loans made under the Credit Agreement prior to the Amendment remains unchanged at April 29, 2024 and all other terms of the Credit Agreement remain unchanged in all material respects.
As of the date hereof, the aggregate outstanding principal balance of all term loans under the Credit Agreement is $300.0 million (consisting of an outstanding principal balance of the initial term loan in the amount of $48.0 million and the additional $252.0 million term loan borrowing made pursuant to the Amendment).
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information disclosed above under Item 1.01 is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. |
| Description |
104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Rollins, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ROLLINS, INC.
Date: February 2, 2022 | By: | /s/ Julie Bimmerman |
| Name: | Julie Bimmerman |
| Title: | Interim Chief Financial Officer and Treasurer |
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| (Principal Financial and Accounting Officer) |