U.S. stocks surge; investors buoyed by progress towards ending government shutdown
The Sherwin-Williams Company (NYSE:SHW) announced Wednesday that it has entered into an amendment to its existing credit agreement with Citicorp USA, Inc. and a group of lenders. According to a statement based on a Securities and Exchange Commission filing, Amendment No. 21 to the Credit Agreement extends the maturity of $125 million in commitments available for borrowing and issuing letters of credit. The new maturity date is December 20, 2030, extended from the previous date of December 20, 2025. This credit facility represents a small portion of Sherwin-Williams’ total debt of $14.39 billion as of the most recent quarter, with InvestingPro data showing the company’s short-term obligations currently exceed its liquid assets.
The agreement, originally dated May 9, 2016, remains in effect with Citicorp USA, Inc. acting as administrative agent and issuing bank. The company noted that certain lenders and their affiliates have previously provided, and may continue to provide, various financial services to Sherwin-Williams and its subsidiaries, including commercial banking, investment banking, lending, underwriting, trust, and financial advisory services, for which they have received customary fees.
No other material changes to the terms of the credit agreement were disclosed in the filing. The company’s common stock continues to trade on the New York Stock Exchange under the symbol SHW.
This information is based on a press release statement filed with the SEC.
In other recent news, Sherwin-Williams reported a strong performance in the third quarter of 2025, surpassing earnings and revenue expectations. The company’s earnings per share (EPS) came in at $3.59, exceeding the forecast of $3.45, while revenue reached $6.36 billion, above the anticipated $6.2 billion. These results indicate a return to year-over-year growth in earnings after a slower second quarter. Additionally, BofA Securities raised its price target for Sherwin-Williams to $371, maintaining a Neutral rating, following the encouraging third-quarter earnings report. The company is significantly outperforming underlying demand in its core paint stores business. In a leadership update, Sherwin-Williams announced that Benjamin E. Meisenzahl will become the next Chief Financial Officer effective January 1, 2026. Meisenzahl, currently the Senior Vice President of Finance, will succeed Allen J. Mistysyn, who is set to retire after 35 years with the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.