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.

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