Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
GRANITE CONSTRUCTION INC incurred term loan of $150 million with Bank of America, N.A. at term SOFR plus an applicable margin of between 1.25% and 2.25% maturing 2027-06-02.
- Instrument
- term loan
- Principal
- $150 million
- Counterparty
- Bank of America, N.A.
- Rate
- term SOFR plus an applicable margin of between 1.25% and 2.25%
- Maturity
- 2027-06-02
- Event
- incurrence
Exact text from the filing
The Amendment amended the Original Credit Agreement to, among other things, provide for a $150 million senior secured term loan (the “Term Loan”), which was fully drawn on closing.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.98
GRANITE CONSTRUCTION INC entered into Equity Purchase Agreement with Roberts Family Companies, Inc. valued at $278,000,000 (effective 2023-11-30).
- Action
- entry
- Agreement
- equity purchase
- Counterparty
- Roberts Family Companies, Inc.
- Value
- $278,000,000
- Effective
- 2023-11-30
Exact text from the filing
On November 30, 2023, Granite Construction Incorporated, a Delaware corporation (the “Company”) entered into an Equity Purchase Agreement (the “Purchase Agreement”) with Granite Southeast Company, a Delaware corporation and wholly owned subsidiary of the Company (the “Buyer”), Roberts Family Companies, Inc., a Tennessee corporation (the “Seller”), Lehman-Roberts Company, a Tennessee corporation and wholly owned subsidiary of the Seller (“Lehman-Roberts”), Memphis Stone & Gravel Company, a Tennessee corporation and wholly owned subsidiary of the Seller (“Memphis Stone”), certain entities and individuals specified therein that beneficially own the Seller (the “Beneficial Owners” and, together with Seller, the “Seller Parties”) and Patrick Nelson, as representative of the Seller Parties.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.97
GRANITE CONSTRUCTION INC entered into Amendment No. 2 to Fourth Amended and Restated Credit Agreement with Bank of America, N.A. valued at $150,000,000 senior secured term loan (effective 2023-11-30).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Bank of America, N.A.
- Value
- $150,000,000 senior secured term loan
- Effective
- 2023-11-30
Exact text from the filing
The Company entered into the Amendment No. 2 to Fourth Amended and Restated Credit Agreement, dated as of November 30, 2023 among the Company, Granite Construction Company and GILC Incorporated, as borrowers, Layne Christensen Company, as a guarantor, the lenders party thereto, and Bank of America, N.A., as administrative agent (the “Amendment”).
View on SEC.gov