Koppers Holdings Inc. successfully extended the maturity date of its $800 million revolving credit facility to June 17, 2030. This extension enhances the company's capital position and financial flexibility. The previous maturity date was not specified, but this extends it significantly.
The transaction also modifies the total net leverage ratio financial covenant, removing a step down to 4.50:1.00 for the fiscal quarter ending September 30, 2026. Instead, the test will remain at 4.75:1.00 through the life of the deal. Additionally, the interest rate margins on the Revolving Facility were modified by removing a 10 basis points credit spread adjustment applicable to certain SOFR loans and increasing the total net leverage ratio test used to determine the interest rate margin.
Chief Financial Officer Jimmi Sue Smith stated that this agreement reflects the continued confidence of Koppers' banking partners. The extension and modifications are expected to lower borrowing costs and support the company's strategic priorities. All other material terms, conditions, and covenants of the Revolving Facility remain unchanged.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.