Ferguson Prices $1.2B Senior Notes
Ferguson prices $1.2 billion senior notes offering to fund FWI Holdings acquisition
On August 11, 2026, Ferguson Enterprises Inc. ("Ferguson") (NYSE: FERG ) announced that it has priced a public offering (the "Notes Offering") of $700 million in aggregate principal amount of 4.800% senior unsecured notes due 2029 (the "2029 Notes") and $500 million in aggregate principal amount of 5.600% senior unsecured notes due 2036 (the "2036 Notes" and, collectively with the 2029 Notes, the "Notes").
The obligations of Ferguson under each series of Notes will be fully and unconditionally guaranteed (the "Guarantee") by Ferguson UK Holdings Limited, an indirect subsidiary of Ferguson.
Ferguson expects that the closing of the Notes Offering will occur on August 14, 2026, subject to the satisfaction of customary closing conditions.
Ferguson intends to use the net proceeds from the Notes Offering, together with proceeds from its delayed draw term loan facility, to fund the consideration and related fees and expenses payable in connection with the previously announced acquisition of FWI Holdings, Inc. (the "Acquisition") and any remaining proceeds for general corporate purposes, which may include repaying existing indebtedness.
If the Acquisition does not close, Ferguson intends to use the net proceeds from the Notes Offering for general corporate purposes, which may include repaying existing indebtedness.
J.P.
Morgan Securities LLC and BofA Securities, Inc. are acting as joint book-running managers for the Notes Offering.