Hyster-Yale Materials Handling, Inc. and its subsidiaries entered into a Third Amended and Restated Loan, Security and Guaranty Agreement for a $300.0 million revolving credit facility. This facility replaces the company's previous credit arrangement, which was set to mature in June 2026.
The new facility matures on June 24, 2030, providing an extended period of liquidity and financial stability. It comprises a domestic revolving credit facility of $210.0 million and a foreign revolving credit facility of $90.0 million.
The credit facility can be increased to up to $400.0 million over its term, subject to lender approval. Borrowings will bear interest at a floating rate, including base rate, Term SOFR, or EURIBOR, plus an applicable margin. The obligations are secured by a first priority lien on working capital assets and a second priority lien on capital stock, fixtures, and intellectual property.
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