Enviri refinances credit facility: $625M new revolver due 2029, leverage covenant step-down to 4.00x

ENVIRI Corp

Entered Amendment No. 14, obtaining $625M new revolving credit commitments maturing Sept 2029; retained $50M existing commitments maturing March 2026.
Leverage covenant capped at 5.00x stepping down to 4.00x by March 2026.
Interest margins: new facility 175-225 bps over SOFR; existing facility 150-275 bps over SOFR.
Company reduced existing revolver by $466.67M and repaid $441.67M concurrently.
Facility was oversubscribed with multiple arrangers and agents.

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