Sherwin-Williams entered into an agreement for a revolving letter of credit of up to $250 million. Goldman Sachs served as administrative agent.
Citicorp served as administrative agent and issuing bank for an amendment to Sherwin-Williams’ credit agreement, increasing availability to $425 million.
Axalta Coating Systems has entered into an agreement to acquire the assets of Valspar’s North American Wood Coatings business for $420 million. Deutsche Bank committed financing to support the acquisition.
Citicorp served as administrative agent and issuing bank for Sherwin-Williams’ credit facility, increasing available funds from $300 million to $350 million.
Sherwin-Williams will acquire The Valspar Corporation in an all-cash transaction having a value of $11.3 billion. Citigroup Global Markets has committed bridge financing to support the transaction.