Kirby enters $750M credit facility ($500M revolver + $250M term loan) due 2027

KIRBY CORP

New $500M revolving credit facility and $250M term loan, maturity July 29, 2027.
Current interest rate: 137.5 bps over SOFR or 37.5 bps over Alternate Base Rate.
Term loan repayable in quarterly installments starting Dec 31, 2022; $43.8M due at maturity.
Proceeds used to repay $285M outstanding under prior 2024 credit agreement.
Covenants include interest coverage ratio and debt-to-capitalization ratio.

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