---
schema_version: "secwatch.filing_event.v1"
accession: "0000700923-23-000049"
form_type: "8-K"
ticker: "MYRG"
cik: "0000700923"
company_name: "MYR GROUP INC."
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T08:40:05.101311+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# MYR Group enters five-year $490M credit facility, replacing $375M facility

## Summary
- Revolving credit facility increased from $375M to $490M, with $200M expansion option.
- Facility secured by substantially all assets of company and domestic subsidiaries; domestic subs guarantee repayment.
- Financial covenants: max net leverage ratio 3.0, min interest coverage ratio 3.0.
- Interest at Alternate Base Rate + 0.25-1.00% or Term Benchmark Rate + 1.25-2.00%; SOFR replaces LIBOR.
- Proceeds to refinance existing debt and fund working capital, capex, acquisitions.

## SEC filing metadata
- accession: 0000700923-23-000049
- form_type: 8-K
- ticker: MYRG
- cik: 0000700923
- company_name: MYR GROUP INC.
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/700923/000070092323000049/0000700923-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/700923/000070092323000049/myrg-20230531.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000700923-23-000049
- JSON: https://secwatch.observer/filing/0000700923-23-000049.json
- Plain text: https://secwatch.observer/filing/0000700923-23-000049.txt

## Key facts
- Debt Financings
  MYR GROUP INC. incurred revolving credit of $490 million with JPMorgan Chase Bank, N.A. and Bank of America, N.A. at Alternate Base Rate plus applicable margin ranging from 0.25% to 1.00%, or Term maturing five-year.
  - Instrument: revolving credit
  - Principal: $490 million
  - Counterparty: JPMorgan Chase Bank, N.A. and Bank of America, N.A.
  - Rate: Alternate Base Rate plus applicable margin ranging from 0.25% to 1.00%, or Term
  - Maturity: five-year
  - Event: incurrence
  source text: On May 31, 2023, MYR Group Inc. (the “Company”) entered into a five-year third amended and restated credit agreement (the “Credit Agreement”) which provides a revolving credit facility of $490 million (the “Facility”) with a syndicate of banks led by JPMorgan Chase Bank, N.A. and Bank of America, N.A.
  evidence_url: https://www.sec.gov/Archives/edgar/data/700923/000070092323000049/0000700923-23-000049-index.htm

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