other material
confidence high
sentiment neutral
materiality 0.60
Oil-Dri amends credit agreement: revolver increased to $75M, accordion allows additional $50M, term extended to 2029
Oil-Dri Corp of America
- Revolving line raised from $45M to $75M; L/C sublimit increased from $10M to $20M.
- New accordion provision permits up to $50M further increase (max $125M), at BMO's discretion.
- Termination date extended to September 30, 2029 (was earlier date).
- Permitted acquisitions threshold increased from $45M cumulative to $100M.
- Amended credit agreement includes updated financial covenants and conditions.