Monitor upcoming quarterly earnings for leverage ratio trends and covenant headroom. The refinancing removes near-term maturity pressure, allowing focus on operational performance.
Price Chart
Executive Summary
Hayward Holdings entered into an amended first lien credit agreement, refinancing its existing term loan ($960M, 7-year) and revolving credit facility ($425M, 5-year) with extended maturities and improved terms, without increasing total indebtedness. The refinancing reduces near-term refinancing risk and provides liquidity through a larger revolver, but does not alter the company's fundamental business outlook.
Key Facts
- Borrowed $960M in new term loans under a 7-year facility
- Entered into a $425M 5-year revolving credit facility
- Refinanced existing facilities with no increase in total indebtedness
- Term loans bear SOFR+2% or ABR+1%
- Revolver margin ranges from 1.25-2.00% (SOFR) based on leverage
- Financial covenants (max total leverage, min net interest coverage) apply only to the revolver
Financial Impact
No increase in total debt; extended maturities reduce refinancing risk
Risk Factors
- Higher interest expense if SOFR rises given floating-rate exposure
- Financial covenant compliance could constrain future actions if leverage increases
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001834622-26-000041 |
| Document: hayw-20260623.htm | 0001834622-26-000041 |
| Document: 0001834622-26-000041-index-headers.html | 0001834622-26-000041 |
| Document: 0001834622-26-000041-index.html | 0001834622-26-000041 |
| Document: 0001834622-26-000041.txt | 0001834622-26-000041 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 144 | $11.74 | awaiting T+60 | — | $13.03 (+10.99%) |
Oct 13, 2026 14d ago | 3 | $11.51 | awaiting T+60 | — | $13.03 (+13.21%) |
Sep 15, 2026 6w ago | 144 | $12.75 | awaiting T+60 | — | $13.03 (+2.20%) |
Jun 23, 2026 18w ago | 8-K | $15.76 $12.89 | ▼ −18.21% | ▼ −21.05% | $13.03 (−17.32%) |
Feb 25, 2026 34w ago | 8-K | $14.99 $13.72 | ▼ −8.47% | ▼ −15.42% | $13.03 (−13.08%) |
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