---
schema_version: "secwatch.filing_event.v1"
accession: "0000763744-23-000056"
form_type: "8-K"
ticker: "LCII"
cik: "0000763744"
company_name: "LCI INDUSTRIES"
filed_at: "2023-05-24T23:59:59+00:00"
generated_at: "2026-06-14T16:35:49.009002+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# LCI Industries amends credit agreement: transitions to SOFR, temporarily relaxes financial covenants

## Summary
- Total net leverage ratio covenant increased to 4.25:1.00 for Sept 30, 2023 quarter; reverts to 3.00:1.00 after.
- Minimum debt service coverage ratio decreased to 1.15:1.00 for Sept 30, 2023 quarter; reverts to 2.00:1.00.
- Interest rate benchmark transitions from LIBOR to term SOFR plus 0.10% credit spread adjustment.
- Amendment dated May 23, 2023; effective immediately; credit facility total remains $600M revolver and $400M term loan.

## SEC filing metadata
- accession: 0000763744-23-000056
- form_type: 8-K
- ticker: LCII
- cik: 0000763744
- company_name: LCI INDUSTRIES
- filed_at: 2023-05-24T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763744/000076374423000056/0000763744-23-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763744/000076374423000056/lcii-20230523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000763744-23-000056
- JSON: https://secwatch.observer/filing/0000763744-23-000056.json
- Plain text: https://secwatch.observer/filing/0000763744-23-000056.txt

## Key facts
- Debt Financings
  LCI INDUSTRIES amended credit facility with JPMorgan Chase Bank, N.A., as administrative agent at term SOFR rate for an interest period selected by the Company plus a credit spre.
  - Instrument: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: term SOFR rate for an interest period selected by the Company plus a credit spre
  - Event: amendment
  source text: the Amendment also provides for adjustments to certain of the financial covenants applicable under the Amended Credit Agreement by increasing the maximum total net leverage ratio and decreasing the minimum debt service coverage ratio
  evidence_url: https://www.sec.gov/Archives/edgar/data/763744/000076374423000056/0000763744-23-000056-index.htm
- Material Agreements
  LCI INDUSTRIES amended Amendment No. 5 with JPMorgan Chase Bank, N.A., as administrative agent, and the other bank lenders (effective 2023-05-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the other bank lenders
  - Effective: 2023-05-23
  source text: On May 23, 2023, LCI Industries (the “Company”) and certain of its subsidiaries entered into an Amendment No. 5 (the “Amendment”) which amends the Company’s existing Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, and the other bank lenders to, among other things, provide for the transition from the London Inter-Bank Offered Rate (“LIBOR”) to the Secured Overnight Financing Rate (“SOFR”) as the benchmark rate for purposes of calculating interest on outstanding borrowings and related conforming changes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/763744/000076374423000056/0000763744-23-000056-index.htm
- Material Agreements
  LCI INDUSTRIES amended Amendment No. 5 with JPMorgan Chase Bank, N.A., as administrative agent, and the other bank lenders (effective 2023-05-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the other bank lenders
  - Effective: 2023-05-23
  source text: On May 23, 2023, LCI Industries (the “Company”) and certain of its subsidiaries entered into an Amendment No. 5 (the “Amendment”) which amends the Company’s existing Fourth Amended and Restated Credit Agreement (the “Amended Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, and the other bank lenders
  evidence_url: https://www.sec.gov/Archives/edgar/data/763744/000076374423000056/0000763744-23-000056-index.htm

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