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Zurn Elkay (ZWS) boosts revolving credit facility to $550M, extends to 2031

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8-K

Rhea-AI Filing Summary

Zurn Elkay Water Solutions Corporation updated its main credit agreement by refinancing its existing revolving borrowings and expanding its revolving credit facility from $200 million to $550 million. This larger facility gives the company more committed bank financing it can draw over time.

The amendment also adjusts financial ratios and definitions that govern how much the company can borrow and changes interest rate margins and commitment fees based on its net first lien leverage ratio. The new revolving credit facility now matures on February 19, 2031, with $540.1 million of additional borrowing capacity and $9.9 million of letters of credit outstanding after the amendment became effective.

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Insights

Zurn Elkay significantly upsizes and extends its revolving credit facility.

Zurn Elkay amended its first lien credit agreement to refinance existing revolver borrowings and increase the revolving credit facility from $200 million to $550 million. This provides a larger committed lending capacity the company can access as needed.

The amendment also ties interest margins and commitment fees to the net first lien leverage ratio and modifies ratios and definitions that influence borrowing capacity. The revolver now matures on February 19, 2031, giving long-dated access to liquidity, with $540.1 million of additional borrowing capacity and $9.9 million of letters of credit outstanding after effectiveness.

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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): February 19, 2026
 
 
ZURN ELKAY WATER SOLUTIONS CORPORATION
(Exact name of registrant as specified in its charter)
 
Delaware001-3547520-5197013
(State of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
 
511 W. Freshwater Way 53204
Milwaukee,Wisconsin
(Address of Principal Executive Offices)(Zip Code)

(855) 480-5050
(Registrant's telephone number, including area code)

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 Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock $.01 par valueZWSThe 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 1.01    Entry into a Material Definitive Agreement.
On February 19, 2026 (the “Effective Date”), Zurn Elkay Water Solutions Corporation's (the “Company”) subsidiaries ZBS Global, Inc., Zurn Holdings, Inc., Zurn LLC, and EMC Water LLC, as Borrowers (collectively, the “Borrowers”), the other loan parties thereto, the lenders from time to time party thereto, and UBS AG, Stamford Branch, as former administrative agent and former collateral agent, and JPMorgan Chase Bank, N.A., as successor administrative agent and successor collateral agent, entered into Amendment No. 3 (the “Amendment”) to the Fourth Amended and Restated First Lien Credit Agreement, dated as of October 4, 2021 (the “Credit Agreement”). The Amendment refinances the existing revolving facility amounts outstanding under the Credit Agreement as of the Effective Date and increases the capacity of the revolving credit facility under the Credit Agreement from $200 million to $550 million, available to be drawn from time to time in the forms and amounts, and subject to the limits, set forth in the Credit Agreement, as amended by the Amendment. The Amendment also modifies certain ratios and definitions applicable to capacity increases and borrowing abilities and revises the applicable interest rate margins and commitment fees based on the Borrowers’ net first lien leverage ratio. The maturity date for the new revolving credit facility is February 19, 2031. Following the Effective Date, the Company will have $540.1 million of additional borrowing capacity under the revolving credit facility and $9.9 million of outstanding letters of credit.
The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 2.03    Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure set forth in Item 1.01 above is incorporated by reference in this Item 2.03.


Item 9.01        Financial Statements and Exhibits.
Exhibit  No.Description
10.1
Amendment No. 3, dated as of February, 19, 2026, to the Fourth Amended and Restated First Lien Credit Agreement by and among ZBS Global, Inc., Zurn Holdings, Inc., Zurn LLC, and EMC Water LLC, the other loan parties thereto, the lenders from time to time party thereto, and UBS AG, Stamford Branch, as former administrative agent and former collateral agent, and JPMorgan Chase Bank, N.A., as successor administrative agent and successor collateral agent*
104Cover Page Inline XBRL data embedded within the Inline XBRL document
* Schedules and exhibits to this Exhibit have been omitted in accordance with Regulation S-K Items 601(a)(5) and/or 601(b)(2). The Company agrees to furnish supplementally a copy of all omitted schedules to the Securities and Exchange Commission on a confidential basis upon request.


SIGNATURE
    Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, Zurn Elkay Water Solutions Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized this 20th day of February, 2026.
ZURN ELKAY WATER SOLUTIONS CORPORATION
BY:/s/ DAVID J. PAULI
 David J. Pauli
 Chief Financial Officer


Source: View Original Filing on SEC EDGAR

FAQ

What change did Zurn Elkay (ZWS) make to its credit facility?

Zurn Elkay amended its first lien credit agreement to refinance existing revolving borrowings and expand its revolving credit facility from $200 million to $550 million. This increases the committed borrowing capacity available under the agreement for future financing needs.

How much additional borrowing capacity does Zurn Elkay have after the amendment?

After the amendment’s effective date, Zurn Elkay has $540.1 million of additional borrowing capacity under its revolving credit facility. The company also has $9.9 million of outstanding letters of credit supported by this expanded revolver structure.

When does Zurn Elkay’s amended revolving credit facility mature?

The amended revolving credit facility for Zurn Elkay matures on February 19, 2031. This extended maturity provides a long-term committed liquidity source, subject to the financial covenants and borrowing conditions set out in the credit agreement.

Did Zurn Elkay change interest margins or fees in this credit amendment?

Yes. The amendment revises applicable interest rate margins and commitment fees so they vary based on Zurn Elkay’s net first lien leverage ratio. These pricing changes link the cost of borrowing and unused commitments more closely to the company’s leverage profile over time.

Which subsidiaries are borrowers under Zurn Elkay’s amended credit agreement?

Subsidiaries ZBS Global, Inc., Zurn Holdings, Inc., Zurn LLC, and EMC Water LLC are borrowers under the amended credit agreement. They, along with other loan parties and lenders, are subject to the revised terms in Amendment No. 3 to the first lien facility.

Who is the administrative agent under Zurn Elkay’s amended facility?

JPMorgan Chase Bank, N.A. is the successor administrative agent and collateral agent under the amended first lien credit agreement. UBS AG, Stamford Branch, is referenced as the former administrative agent and collateral agent in the amendment documentation.

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147.11M
Pollution & Treatment Controls
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