September 01, 2014 11:19 PM ET

Diversified Consumer Services

Company Overview of The ServiceMaster Company, LLC

Company Overview

The ServiceMaster Company, LLC provides services to the residential and commercial customers worldwide. Its Terminix segment provides termite and pest control services under the Terminix brand name; and distributes pest control products. The company’s American Home Shield segment provides home warranties and preventative maintenance contracts for household systems and appliances primarily under the American Home Shield brand name. This segment offers residential customers with contracts to repair or replace electrical, plumbing, central heating and central air conditioning systems, water heaters, and other covered household systems and appliances, as well as services those contracts through ...

860 Ridge Lake Boulevard

Memphis, TN 38120

United States

Founded in 1929

22,000 Employees

Phone:

901-597-1400

Key Executives for The ServiceMaster Company, LLC

Chief Executive Officer
Age: 54
Chief Financial Officer and Senior Vice President
Age: 50
President of American Home Shield and Chief Operating Officer of American Home Shield
Age: 52
President of Terminix
Age: 45
President of Servicemaster Clean
Age: 58
Compensation as of Fiscal Year 2014.

The ServiceMaster Company, LLC Key Developments

The ServiceMaster Co., Reports Earnings Results for the Second Quarter of 2014

The. For the quarter, the company reported revenue of $683 million, up 8% from a year ago. Additionally, the company reported adjusted EBITDA of $171 million, an increase of $41 million compared to a year earlier.

The ServiceMaster Company, LLC, Q2 2014 Earnings Call, Aug 05, 2014

The ServiceMaster Company, LLC, Q2 2014 Earnings Call, Aug 05, 2014

The ServiceMaster Company, LLC Enters into New Credit Agreement with Respect to New $1,825 Million Term Loan Facility Maturing 2021 and New $300 Million Revolving Credit Facility Maturing 2019

On July 1, 2014 (the closing date), in connection with the consummation of the initial public offering of 41,285,000 shares of the common stock, par value $0.01 per share of ServiceMaster Global Holdings, Inc., The ServiceMaster Company, LLC (SvM), the company’s indirect wholly-owned subsidiary, entered into a new credit agreement with respect to a new $1,825 million term loan facility maturing 2021 and a new $300 million revolving credit facility maturing 2019, with JPMorgan Chase Bank, N.A. as administrative agent, collateral agent and issuing bank, and a syndicate of lenders party thereto from time to time.  Borrowings under the Term Loan Facility, together with available cash and a portion of the net proceeds of the IPO, were used to repay in full borrowings outstanding under the Existing Credit Facilities. The Credit Facilities consist of the Term Loan Facility, a senior secured term loan facility in an original principal amount of $1,825 million, and the Revolving Credit Facility, which provides for revolving loans up to a maximum aggregate original principal amount of $300 million. A portion of the borrowings under the Revolving Credit Facility are available for the issuance of letters of credit and the issuance of swing line loans. Amounts under the Revolving Credit Facility may be borrowed in certain designated foreign currencies. The Term Loan Facility will mature on July 1, 2021. The Term Loan Facility will amortize in equal quarterly installments equal to 1.0% per annum of the original principal amount of the term loans until the maturity date. Voluntary prepayments of borrowings under the Term Loan Facility are permitted at any time, in minimum principal amounts, without premium or penalty, except that certain prepayments in connection with certain refinancing transactions within 12 months after the Closing Date will be subject to a prepayment premium of 1.0% of the principal amount prepaid. Subject to certain exceptions, the Term Loan Facility is subject to mandatory prepayment in an amount equal to: the net cash proceeds of (1) certain asset sales, (2) certain debt offerings and (3) certain insurance recovery and condemnation events; and 50% of annual excess cash flow (as defined in the Credit Agreement) for any fiscal year unless a certain secured leverage ratio target is met. The final maturity date of the Revolving Credit Facility will be July 1, 2019. If at any time the sum of the amount outstanding under the Revolving Credit Facility (including revolving loans, letters of credit outstanding and swing line loans there under) exceeds the total amount of lenders’ revolving commitments there under, prepayments of revolving loans and/or swing line borrowings will be required in an amount equal to such excess. The interest rates applicable to the term loans under the Term Loan Facility will be based on a fluctuating rate of interest measured by reference to either, at the borrower’s option, (i) an adjusted London inter-bank offered rate (subject to a floor of 1.0%), plus a borrowing margin of 3.25% or (ii) an alternate base rate (subject to a floor of 2.0%), plus a borrowing margin of 2.25%. The interest rates applicable to the loans under the Revolving Credit Facility will be based on a fluctuating rate of interest measured by reference to either, at the borrower’s option, (i) an adjusted London inter-bank offered rate, plus a borrowing margin of 3.25% or (ii) an alternate base rate, plus a borrowing margin of 2.25%.

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