FOSTER L B CO (FSTR): debt financing — L.B. Foster expands credit facility to $150M, extends maturity to 2030

FOSTER L B CO

Borrowing capacity increased from $130M to $150M; incremental $60M loan feature available.
Maturity extended to June 27, 2030; pricing improved with base rate spread 0.25%-1.50%.
Financial covenants: max gross leverage 3.50x (4.00x acquisition period), min fixed charge coverage 1.10x.
Permitted acquisitions up to $75M each; liquidity of at least $15M required post-acquisition.
Dividends and share repurchases permitted subject to no default; five-bank syndicate led by PNC Bank.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FOSTER L B CO amended revolving credit of $150,000,000 with PNC Bank, N.A., Bank of America, N.A., Citizens Bank, N.A., and Wells Fargo Bank N.A. at base rate and Term SOFR rate spreads range from 0.25% to 1.50% and 1.25% to 2.50 maturing June 27, 2030.

Instrument: revolving credit
Principal: $150,000,000
Counterparty: PNC Bank, N.A., Bank of America, N.A., Citizens Bank, N.A., and Wells Fargo Bank N.A.
Rate: base rate and Term SOFR rate spreads range from 0.25% to 1.50% and 1.25% to 2.50
Maturity: June 27, 2030
Event: amendment

Exact text from the filing

date from August 13, 2026 to June 27, 2030. The Credit Agreement provides for a five-year, revolving credit facility that permits aggregate borrowings of the Borrowers up to $150,000,000 with sublimits for (a) the issuance of Letters of Credit in Dollars and in Alternative Currencies in an amount not to exceed the Dollar Equivalent of $30,000,000, and (b)

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Source: SEC EDGAR

accession 0000352825-25-000108

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