LCI INDUSTRIES (LCII): debt financing — LCI Industries enters $1.0B credit facilities, refinances existing $281M debt

LCI INDUSTRIES

New $600M five-year revolver (matures 2030) and $400M seven-year term loan (matures 2032) under Credit Agreement dated March 25, 2025.
Term loan fully funded on closing; proceeds used to repay ~$281.3M outstanding under prior $600M revolver/$400M term loan from 2018.
Interest rates: revolver SOFR+1.25%-2.00% or base+0.25%-1.00% (leverage-based); term loan SOFR+2.50% or base+1.50%.
Financial covenants: max total net leverage 4.00x, min interest coverage 3.50x; incremental capacity up to $370M plus additional amounts.
Facilities secured by first-lien on substantially all personal property of the Company, borrowers, and material subsidiaries.

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

LCI INDUSTRIES incurred term loan of $400.0 million seven-year term loan facility with JPMorgan Chase Bank, N.A., as administrative agent at a base rate plus an applicable margin, which ... is 1.50%, or ... a term SOFR ra maturing March 25, 2032.

Instrument: term loan
Principal: $400.0 million seven-year term loan facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: a base rate plus an applicable margin, which ... is 1.50%, or ... a term SOFR ra
Maturity: March 25, 2032
Event: incurrence

Exact text from the filing

Credit Agreement provides for (i) a $600.0 million five-year revolving credit facility (of which up to $50.0 million is available for the issuance of letters of credit and up to $400.0 million is available for borrowings by the Company’s foreign subsidiaries that are designated by the Company as a borrower under the Credit Agreement, with LCI Industries B.V. as the

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

LCI INDUSTRIES incurred credit facility of $600.0 million five-year revolving credit facility with JPMorgan Chase Bank, N.A., as administrative agent at a base rate plus an applicable margin, which ... range from 0.25% to 1.00% based maturing March 25, 2030.

Instrument: credit facility
Principal: $600.0 million five-year revolving credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: a base rate plus an applicable margin, which ... range from 0.25% to 1.00% based
Maturity: March 25, 2030
Event: incurrence

Exact text from the filing

On March 25, 2025 (the “Closing Date”), LCI Industries (the “Company”) and certain of its subsidiaries entered into a Credit Agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. The Credit Agreement provides for (i) a $600.0 million five-year revolving credit facility

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Source: SEC EDGAR

accession 0000763744-25-000046

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