Wells Fargo acted as administrative agent, swingline lender and issuing lender on a new $800 million revolving credit facility for Owens Corning. The revolver replaces the company’s previous credit agreement, dated as of November 13, 2015.

Borrowings under the facility may be used for general corporate purposes and working capital.

According to a related 8-K filing, Bank of America also acted as a swingline lender, issuing lender and co-syndication agent, while Citibank acted as issuing lender and co-syndication agent. BNP Paribas, Credit Agricole Corporate and Investment Bank, JPMorgan Chase, PNC Bank and Bank of Nova Scotia served as documentation agents, while Wells Fargo Securities, Merrill Lynch Pierce Fenner & Smith and Citigroup Global Markets served as joint lead arrangers and joint bookrunners

Interest on outstanding indebtedness under the facility will accrue at a rate equal to, at the company’s option, (1) the highest of Wells Fargo Bank’s prime rate, the federal funds rate plus 0.50% and, except when LIBOR is unavailable, LIBOR plus 1.00%; plus an applicable margin based upon the then applicable debt ratings of the company; or (2) if available, LIBOR plus an applicable margin based upon the then applicable debt ratings of the company.

The facility matures on the earlier of May 4, 2023, the date of acceleration pursuant to its terms or the date the commitments thereunder are terminated pursuant to the terms thereof.

Concurrent with the new revolver, Owens Corning also amended its term loan with JPMorgan Chase as administrative agent. The amendment reduced the applicable margin used in the calculation of interest on outstanding indebtedness.

Based in Toledo, OH, Owens Corning develops, manufactures and markets insulation, roofing and fiberglass composites. It employs 19,000 people in 37 countries and has been a Fortune 500 company for 63 consecutive years.