SiteOne Landscape Supply Announces Material Amendment to Credit Agreement

Key Points from the SEC Form 8-K Filing

• Date of Event Reported: April 22, 2026
• Form Type: 8-K – Current Report
• Issuer: SiteOne Landscape Supply Holding, LLC and SiteOne Landscape Supply, LLC
• Amendment: First Amendment to Amended and Restated Credit Agreement
• Administrative Agent: JPMorgan Chase Bank, N.A.
• Participating Lenders: Multiple large financial institutions including PNC Bank, Bank of America, Wells Fargo, TD Bank, First-Citizens Bank, Goldman Sachs Bank USA, ING Capital LLC, and others.
• Trading Symbol: SITE (New York Stock Exchange)
• Business Address: 300 Colonial Center Parkway, Suite 600, Roswell, GA 30076

Details of the Material Definitive Agreement

SiteOne Landscape Supply has entered into the First Amendment to its Amended and Restated Credit Agreement as of April 22, 2026. This amendment involves SiteOne Landscape Supply Holding, LLC, SiteOne Landscape Supply, LLC, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, swingline lender and issuing lender, and several major banks and financial institutions as lenders.

Key changes include:

• Adjustment to the commitment fee rate based on average daily used percentage:
• Greater than 50.0% usage: 0.20% fee rate
• Less than or equal to 50.0% usage: 0.25% fee rate
• Applicable margin rates for loans based on leverage ratios and usage:
• Alternate Base Rate for ≤50% usage: 0.50%
• Adjusted Term SOFR Rate for ≤50% usage: 1.25%
• If the Consolidated Total Leverage Ratio is less than 1.50:1.00, a step-down of 0.125% applies to each level and loan type.
• Delayed financial reporting may trigger higher margins until reports are delivered.
• The amendment covers terms about revolving credit commitments, swingline commitments, repayment, incremental facilities, refinancing amendments, extension of commitments, and Canadian facilities.
• Extensive representations and warranties about corporate existence, compliance with law, enforceable obligations, litigation, ownership of property, intellectual property, taxes, collateral, subsidiaries, environmental matters, insurance, and financial condition.
• Negative covenants covering financial condition, limitations on fundamental changes, restricted payments, acquisitions, disposition of collateral, optional payments, affiliate transactions, investments, indebtedness, and liens.

Shareholder Impact and Price Sensitivity

Why this is important:

• The amendment to SiteOne’s credit facility could affect the company’s cost of capital, liquidity, and financial flexibility. Lower commitment fees and margins when leverage is low or usage is high may reduce interest expense, potentially improving earnings.
• Conversely, delays in required financial reporting could trigger higher rates temporarily, impacting profitability.
• The participation of major banks signals confidence in SiteOne’s credit profile and future growth. The credit agreement is a key tool for funding acquisitions, working capital, and expansion, which could drive future shareholder value.
• Changes in negative covenants and financial condition requirements could restrict certain activities or investments, affecting strategic direction.
• Shareholders and investors should closely monitor SiteOne’s leverage ratio and compliance with reporting requirements, as these directly dictate the fee and margin structure and thus the company’s financial performance.

Signatures and Execution

The amendment is executed by SiteOne’s Executive Vice President, Chief Financial Officer, Treasurer, and Assistant Secretary, Eric Elema, and representatives of all participating lenders, demonstrating a high level of institutional commitment and oversight.

Additional Information

• The full text of the amendment is filed as Exhibit 10.1 and incorporated by reference in the SEC filing.
• Schedules and exhibits have been omitted but are available to the SEC upon request.

Conclusion

This amendment to SiteOne’s credit agreement is a material event, potentially affecting the company’s financials and share price. Investors should consider the impacts of the revised fee and margin structure, leverage targets, reporting requirements, and new lender participation when evaluating SiteOne’s risk, liquidity, and growth prospects.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should review the official SEC filings and consult with their financial advisors before making any investment decisions. The information provided is based on public filings and may be subject to change.