Loan & DebtJul 10, 2026, 06:07 AM
DXP Enterprises boosts ABL Revolver to $225M from $185M
AI Summary
DXP Enterprises, Inc. announced it has entered into a Second Amended and Restated Loan and Security Agreement, increasing its asset-based revolving loan (ABL) facility from $185.0 million to $225.0 million. This new facility, maturing on July 2, 2031, provides enhanced liquidity and flexibility to support the company's organic and acquisition growth strategies. The company aims to optimize its cost of capital and continue reinvesting in the business.
Key Highlights
- DXP Enterprises entered a Second Amended and Restated Loan and Security Agreement.
- Increased asset-based revolving loan (ABL) facility to $225.0 million from $185.0 million.
- The ABL facility provides up to $210.0 million for US Borrowers and $15.0 million for Canadian Borrowers.
- The facility matures on July 2, 2031.
- Interest rates range from Term SOFR/CORRA + 1.25%-1.75% or alternate base rate + 0.25%-0.75%.
- The ABL Facility can be increased by an additional $50.0 million.
- Includes a financial covenant requiring a fixed charge coverage ratio of not less than 1.00:1.00.
Price Impact
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