Cavco Industries enters $75M revolving credit facility maturing 2029

CAVCO INDUSTRIES, INC.

New $75M revolving credit facility with Bank of America, maturing November 12, 2029.
Interest at Term SOFR plus 1.25-1.50% or Base Rate plus 0.25-0.50% based on leverage.
Financial covenants: max total leverage 3.25x and minimum consolidated EBITDA of $75M.
No borrowings outstanding as of November 12, 2024; facility includes $10M letter of credit subfacility.
Amends and restates prior November 2022 credit agreement; $75M incremental facility available.

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