Key Tronic enters $115M revolver and $28M term loan, refinances prior Bank of America facility

KEY TRONIC CORP

$115M asset-based revolver with BMO, matures Dec 3, 2029; $75M outstanding at close.
$28M term loan with Callodine, quarterly principal payments of $0.75M, matures earlier of Dec 2029 or revolver maturity.
Interest rate: SOFR + 2.50%-3.00% for revolver; Term Loan at SOFR + 7.00% plus margin; both have 2.00% default rate.
Financial covenants: fixed charge coverage ratio ≥1.00x monthly; Term Loan requires minimum trailing 12-month EBITDA rising from $14.3M to $25.8M.
Write-off of ~$0.9M unamortized financing fees from prior facility; Prior Bank of America facility terminated.

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