Loan & DebtMay 13, 2026, 04:37 PM
Mohawk Industries Secures New $1.5B Revolving Credit Facility
AI Summary
Mohawk Industries, Inc. entered into a New Credit Agreement on May 12, 2026, establishing an unsecured revolving credit facility of up to $1.5 billion. This new facility refinances the existing credit facility and will be used for ongoing working capital and general corporate purposes. The agreement includes an accordion feature allowing for an additional $600 million in commitments and matures on May 12, 2031, with extension options.
Key Highlights
- Secured a new $1.5 billion unsecured revolving credit facility.
- Includes an accordion feature to increase commitments by up to $600 million.
- Matures on May 12, 2031, with options for two extensions.
- Proceeds will refinance existing debt, cover fees, and fund working capital.
- Interest rates based on Term SOFR or Base Rate plus applicable margins.
- Company must maintain a Consolidated Interest Coverage Ratio of at least 3.50:1.00.
Price Impact
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