Loan & DebtMay 28, 2026, 06:07 AM
Alamo Group Secures $602.5M Amended Credit Agreement
AI Summary
Alamo Group Inc. entered into a Fourth Amended and Restated Credit Agreement for up to $602.5 million with Bank of America, N.A. The agreement includes a $202.5 million term facility and a $400 million revolving facility, both maturing on May 27, 2031. The term facility requires quarterly principal payments of $1,265,625. Borrowings bear interest at base or Term SOFR rates plus an applicable margin, and the company must adhere to financial covenants including leverage and fixed charge coverage ratios.
Key Highlights
- Alamo Group Inc. entered into a Fourth Amended and Restated Credit Agreement for up to $602.5 million.
- The agreement includes a $202.5 million term facility, requiring quarterly principal payments of $1,265,625.
- A $400 million revolving facility is available, with both facilities terminating on May 27, 2031.
- Borrowings bear interest at base or Term SOFR rates plus an applicable margin ranging from 1.25% to 2.25%.
- A commitment fee of 0.125% to 0.30% applies to the unused portion of the revolving facility.
- The company must maintain a maximum consolidated net leverage ratio and a minimum consolidated fixed charge coverage ratio.
Price Impact
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