WillScot Holdings Corporation announced on October 17, 2025 that it had executed the Seventh Amendment to its asset‑based lending credit facility, reducing borrowing costs and extending the maturity date to October 16, 2030. The amendment re‑sizes the facility to $3.0 billion, with commitments totaling $4.0 billion, and provides the company with approximately $1.4 billion of available borrowing capacity under the new terms.
Under the new agreement, interest‑rate spreads above the Term SOFR‑ and Term CORRA‑based rates are capped at 137.5 basis points, down from 160 bps, and the spread above the base rate and Canadian prime rate is limited to 37.5 bps. The company expects annual interest‑expense savings of roughly $5 million at current borrowing levels, with additional reductions to 125 bps after September 30, 2026 if average availability exceeds 50% and net leverage remains below 3.0×.
The amendment enhances WillScot’s financial flexibility by lowering its cost of capital and reinforcing liquidity, thereby supporting future growth initiatives and potential acquisitions. Chief Financial Officer Matt Jacobsen noted that the restructuring “reinforces our strong liquidity position” and “provides significant annual savings,” underscoring the strategic value of the deal for shareholders.
The facility is syndicated by a group of financial institutions, with Bank of America serving as the administrative and collateral agent, and joint lead arrangers including JPMorgan Chase, PNC Capital Markets, and Wells Fargo. The amendment reflects WillScot’s continued focus on prudent capital discipline and its ability to secure favorable financing terms in a supportive credit environment.
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