Loan & DebtJun 11, 2026, 01:57 PM
Badger Meter Amends, Extends $150M Revolving Credit Facility to 2031
AI Summary
Badger Meter, Inc. has amended and extended its $150 million multi-currency revolving credit facility, pushing the maturity date to July 8, 2031. The facility bears interest at varying rates based on the company's Consolidated Net Debt to EBITDA Ratio, initially at Term SOFR, Adjusted EURIBO, or Daily Simple SONIA plus 87.5 basis points. The company must maintain specific financial covenants, including a Consolidated Net Debt to EBITDA Ratio not exceeding 3.00 to 1.00, with a temporary increase option for material acquisitions.
Key Highlights
- Badger Meter amended and extended its $150 million multi-currency revolving credit facility.
- The new maturity date for the credit facility is July 8, 2031.
- No amounts were outstanding under the facility as of June 5, 2026.
- Interest rates will vary based on the Consolidated Net Debt to EBITDA Ratio, initially Term SOFR/EURIBO/SONIA plus 87.5 basis points.
- Company must maintain a Consolidated Net Debt to EBITDA Ratio not greater than 3.00 to 1.00.
- Required to maintain an interest coverage ratio not less than 3.00 to 1.00.
- The maximum Consolidated Net Debt to EBITDA Ratio can be increased to 3.50 to 1.00 for certain material acquisitions.
Price Impact
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