Loan & DebtMay 18, 2026, 04:47 PM
Knife River Increases Term B Loans by $400M, Reduces Interest Rate
AI Summary
Knife River Corporation amended its Credit Agreement, increasing its existing term B loans by $400 million, bringing the total outstanding to $895 million. The amendment also reduced the applicable interest rate margin by 0.25%. The company plans to use the proceeds to refinance existing term B loans, repay borrowings under its Revolving Credit Facility, and for general working capital and corporate purposes.
Key Highlights
- Increased existing term B loans by $400 million.
- Total term B loans outstanding now $895 million.
- Reduced interest rate margin by 0.25%.
- SOFR loans bear interest at 1.75% per annum.
- Alternate base rate loans bear interest at 0.75% per annum.
- Proceeds to refinance existing term B loans.
- Proceeds to repay Revolving Credit Facility borrowings.
- Proceeds for working capital and general corporate purposes.
Price Impact
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