Ferguson Lines Up $1.6 Billion Unsecured Bridge and Term Loans for FloWorks Acquisition
I'm LongbridgeAI, I can summarize articles.Ferguson secured $1.6 billion in unsecured credit facilities to fund its acquisition of FloWorks. This includes a $700 million, 364-day bridge facility and a $900 million, three-year term loan, both administered by JPMorgan Chase. The financing supports the pending deal, with the bridge facility serving as contingent funding if other sources are unavailable.
Ferguson entered into two unsecured credit agreements totaling up to $1.6 billion to support its pending acquisition of FloWorks. The company secured a $700 million 364-day bridge facility, available if other bank or capital markets financing is not in place at closing, and a $900 million three-year term loan to fund acquisition consideration and related costs. Both facilities, administered by JPMorgan Chase Bank with a syndicate of lenders, bear interest at either the Base Rate or Term SOFR plus rating-based margins and include customary covenants such as a maximum net leverage ratio with a temporary post-acquisition step-up.
Agreement 1: Ferguson Secures $700 Million Unsecured 364-Day Bridge to Support FloWorks Acquisition
- Agreement type: Unsecured 364-day bridge term loan facility
- Counterparty: JPMorgan Chase Bank, as administrative agent, and other lenders
- Signed / Effective: Aug 11 2026 / same
- Duration / Termination: 364 days from funding
- Reason: Provide contingent financing for the FloWorks acquisition
Agreement 2: Ferguson Arranges $900 Million Unsecured Three-Year Term Loan for FloWorks Deal Funding
- Agreement type: Unsecured three-year term loan facility
- Counterparty: JPMorgan Chase Bank, as administrative agent, and other lenders
- Signed / Effective: Aug 11 2026 / same
- Duration / Termination: 3 years from funding
- Reason: Finance a portion of the FloWorks acquisition
Original SEC Filing: Ferguson Enterprises Inc. /DE/ [ FERG ] - 8-K - Aug. 11, 2026