---
schema_version: "secwatch.filing_event.v1"
accession: "0000080420-23-000020"
form_type: "8-K"
ticker: "POWL"
cik: "0000080420"
company_name: "POWELL INDUSTRIES INC"
filed_at: "2023-04-06T23:59:59+00:00"
generated_at: "2026-06-17T05:29:49.620303+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Powell Industries increases revolving credit facility from $75M to $125M

## Summary
- Revolving line of credit increased from $75M to $125M under second amendment to credit agreement.
- Interest rate spread amended to range from 0.00% to 2.00% based on consolidated net leverage ratio.
- Unused commitment fee set at 0.25% to 0.35% depending on leverage ratio.
- New liquidity covenant requires maintaining at least $50M of liquidity.
- Net leverage ratio calculation allows deduction of up to $50M based on letters of credit and unencumbered cash.

## SEC filing metadata
- accession: 0000080420-23-000020
- form_type: 8-K
- ticker: POWL
- cik: 0000080420
- company_name: POWELL INDUSTRIES INC
- filed_at: 2023-04-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/80420/000008042023000020/0000080420-23-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/80420/000008042023000020/powl-20230331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000080420-23-000020
- JSON: https://secwatch.observer/filing/0000080420-23-000020.json
- Plain text: https://secwatch.observer/filing/0000080420-23-000020.txt

## Key facts
- Debt Financings
  POWELL INDUSTRIES INC incurred revolving credit of $125,000,000 with Bank of America, N.A. at 0.00% to 2.00% depending on the type of loan and the Company’s consolidated net.
  - Instrument: revolving credit
  - Principal: $125,000,000
  - Counterparty: Bank of America, N.A.
  - Rate: 0.00% to 2.00% depending on the type of loan and the Company’s consolidated net
  - Event: incurrence
  source text: the Company, together with certain of its direct subsidiaries, entered into a second amendment to the U.S. Revolver (the “Second Amendment”) with the lenders party thereto and Bank of America, as Administrative Agent, Swingline Lender, L/C Issuer and a Lender. The Second Amendment amended the U.S. Revolver by, among other things, (i) increasing the amount of the revolving line of credit extended to the Company thereunder from $75,000,000 to $125,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/80420/000008042023000020/0000080420-23-000020-index.htm
- Material Agreements
  POWELL INDUSTRIES INC amended Second Amendment with Bank of America, N.A., as Administrative Agent, Swingline Lender, L/C Issuer and a Lender valued at increasing the amount of the revolving line of credit ... from $75,000,000 to $125,000,000 (effective 2023-03-31).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A., as Administrative Agent, Swingline Lender, L/C Issuer and a Lender
  - Value: increasing the amount of the revolving line of credit ... from $75,000,000 to $125,000,000
  - Effective: 2023-03-31
  source text: On March 31, 2023, the Company, together with certain of its direct subsidiaries, entered into a second amendment to the U.S. Revolver (the "Second Amendment") with the lenders party thereto and Bank of America, as Administrative Agent, Swingline Lender, L/C Issuer and a Lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/80420/000008042023000020/0000080420-23-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.