Core & Main extends $1.25B ABL credit facility

Core & Main, Inc. reported that its subsidiary Core & Main LP entered into Amendment No. 6 to its asset-based lending (ABL) credit agreement.

Accepted by SEC EDGAR 04/10/2026 - 08:00 AM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Core & Main, Inc. reported that its subsidiary Core & Main LP entered into Amendment No. 6 to its asset-based lending (ABL) credit agreement. The amendment keeps aggregate ABL commitments at $1,250 million while extending their maturity date to April 9, 2031, with an earlier maturity if certain other indebtedness remains outstanding 91 days before that date.

The amendment also replaces Citibank, N.A. as administrative and collateral agent with Wells Fargo Bank, National Association, and allows other covenant and technical changes that authorized officers deemed necessary or appropriate. The core borrowing capacity remains in place while updating the lender agent group and extending the facility’s term.

Insights

Credit & capital structure analyst

Core & Main extends $1.25B ABL maturity and changes its lead bank, with core borrowing capacity unchanged.

The amendment keeps the ABL facility’s aggregate commitments at $1,250 million while pushing the maturity to April 9, 2031. This preserves access to a sizable revolving credit line used for working capital and general corporate needs, subject to borrowing base limits under the agreement.

The switch from Citibank to Wells Fargo as administrative and collateral agent, along with covenant updates, appears structural rather than transformational. The filing does not quantify pricing or covenant tightness, so the change looks like a routine refinancing step that maintains liquidity rather than a major shift in financial risk.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

ABL aggregate commitments: $1,250 million New ABL maturity date: April 9, 2031 Potential earlier maturity trigger: 91 days before April 9, 2031 +1 more

4 metrics

ABL aggregate commitments $1,250 million Commitment size under Existing ABL Credit Agreement

New ABL maturity date April 9, 2031 Extended maturity of ABL commitments

Potential earlier maturity trigger 91 days before April 9, 2031 If certain other indebtedness remains outstanding

Amendment execution date April 9, 2026 Date of Amendment No. 6 to ABL Credit Agreement

Key Terms

ABL Credit Agreement, aggregate commitments, maturity date, administrative agent, +2 more

6 terms

ABL Credit Agreement financial

"entered into Amendment No. 6 (“Amendment No. 6”) to its existing ABL Credit Agreement"

ABL credit agreement is a loan contract where a company borrows money using specific assets—typically cash owed by customers, inventory, or equipment—as collateral; think of it like pawning valued items to get cash quickly. Investors care because these loans affect a company’s day-to-day liquidity and borrowing capacity, and the lender’s rights to seize pledged assets can increase risk and influence the company’s financial flexibility and creditworthiness.

aggregate commitments financial

"extend the maturity date of the $1,250 million aggregate commitments under the Existing ABL Credit Agreement"

maturity date financial

"extend the maturity date of the $1,250 million aggregate commitments under the Existing ABL Credit Agreement to April 9, 2031"

The maturity date is the specific day when a loan, bond, or investment reaches its full term and the borrower must repay the borrowed amount in full. It is important for investors because it indicates when they will receive their initial money back and can plan their future financial steps accordingly. Think of it as the due date for a loan or the day a gift card or coupon expires.

administrative agent financial

"Citibank, N.A., as administrative agent and collateral agent (the “Resigning ABL Agent”)"

An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.

collateral agent financial

"Wells Fargo Bank, National Association, as successor administrative agent and collateral agent"

A collateral agent is a neutral third party that holds and manages the assets pledged to secure a loan on behalf of a group of lenders, acting like the keyholder to a shared safe. If the borrower falls behind, the collateral agent enforces the lenders’ rights and coordinates who gets what, which affects how quickly and how much lenders can recover. Investors care because the agent’s role shapes recovery prospects, enforcement speed and the clarity of lenders’ claims.

covenants financial

"including certain amendments to the covenants"

Covenants are rules written into loan or bond contracts that require a company to do or avoid certain things—like keeping debt below a set level or not selling key assets. They matter to investors because they protect lenders and influence a company’s flexibility: tight covenants can limit growth plans but lower default risk, while loose covenants give freedom but increase credit risk, similar to how household rules affect a family’s budget choices.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Core & Main (CNM) change in its ABL credit agreement?

Core & Main LP entered Amendment No. 6 to its ABL Credit Agreement. It extended the facility’s maturity, changed the administrative agent, and made additional covenant and technical updates while keeping the aggregate commitments level unchanged at $1,250 million.

How large is Core & Main’s ABL facility mentioned in this 8-K?

The ABL facility under the amended agreement has aggregate commitments of $1,250 million. This represents the maximum borrowing capacity available under the revolving credit line, subject to the agreement’s borrowing base and covenant conditions with participating lenders.

When does Core & Main’s amended ABL credit facility now mature?

The amendment extends the maturity date of the ABL Credit Agreement commitments to April 9, 2031. However, if certain other existing indebtedness remains outstanding, the facility will mature on the date that is 91 days before that maturity date.

Which bank is now the administrative agent for Core & Main’s ABL facility?

The amendment replaces Citibank, N.A. as administrative and collateral agent with Wells Fargo Bank, National Association. Wells Fargo will now handle administrative and collateral duties for the syndicated ABL facility alongside the several banks and financial institutions party to the agreement.

Does this Core & Main (CNM) filing indicate any change in total ABL borrowing capacity?

The filing states the amendment extends the maturity of $1,250 million in aggregate commitments, indicating the overall ABL borrowing capacity remains the same. The main changes relate to the maturity date, administrative agent, and certain covenants, not the committed size.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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false 0001856525 0001856525 2026-04-09 2026-04-09

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 9, 2026

Core & Main, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-40650		86-3149194
(State or other jurisdiction of incorporation)		(Commission File Number		(IRS Employer Identification No.)

1830 Craig Park Court
St. Louis, Missouri		63146
(Address of principal executive offices)		(Zip Code)

(314) 432-4700

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Class		Trading Symbol		Name of Each Exchange on Which Registered
Class A common stock, par value $0.01 per share		CNM		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

Credit Agreement Amendment

On April 9, 2026, Core & Main LP, a Florida limited partnership (“Core & Main”), an indirect wholly owned subsidiary of Core & Main, Inc., entered into Amendment No. 6 (“Amendment No. 6”) to its existing ABL Credit Agreement, dated as of August 1, 2017, as amended by Amendment No. 1, dated as of July 8, 2019, Amendment No. 2, dated as of May 4, 2020, Amendment No. 3, dated as of July 27, 2021, Amendment No. 4, dated as of July 29, 2022, and Amendment No. 5, dated as of February 9, 2024 (as previously amended, the “Existing ABL Credit Agreement”; and the Existing ABL Credit Agreement, as amended by Amendment No. 6, the “ABL Credit Agreement”), by and among Core & Main, as borrower, Citibank, N.A., as administrative agent and collateral agent (the “Resigning ABL Agent”), and the several banks and other financial institutions from time to time party thereto, to, among other things, (i) extend the maturity date of the $1,250 million aggregate commitments under the Existing ABL Credit Agreement to April 9, 2031; provided that in the case that certain other existing indebtedness remains outstanding on the date that is 91 days prior to such date, the commitments will mature on such earlier date, (ii) replace the Resigning ABL Agent with Wells Fargo Bank, National Association, as successor administrative agent and collateral agent, and (iii) provide for other amendments to the Existing ABL Credit Agreement as any authorized officer deemed necessary or appropriate, including certain amendments to the covenants.

The foregoing description does not purport to be complete and is qualified in its entirety by reference to Amendment No. 6, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
10.1		Amendment No. 6 to the ABL Credit Agreement, dated as of April 9, 2026, by and among Core & Main LP, the several banks and other financial institutions party thereto, Citibank, N.A., as resigning administrative agent and collateral agent, and Wells Fargo Bank, National Association, as successor administrative agent and collateral agent.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 10, 2026				CORE & MAIN, INC.
				By:		/s/ Jackie M. Burkhardt
				Name:		Jackie M. Burkhardt
				Title:		General Counsel, Chief Compliance Officer and Secretary

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 1.7 MB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB