Limoneira CO (LMNR): debt financing — Limoneira enters new $115M credit facility with AgWest Farm Credit, maturing 2030

Limoneira CO

New $114M revolving and $1M non-revolving credit facilities, maturing July 1, 2030.
Initial revolving rate 6.600% (SOFR + 2.15%-3.00% margin); non-revolving rate 6.900%.
Covenants: Minimum Debt Service Coverage Ratio ≥1.00x (FY2025), ≥1.25x thereafter; Total Net Leverage max 6.00x (July 2026) stepping down to 4.50x.
Facility secured by agricultural properties in Ventura County and other collateral; amends and restates prior March 2024 MLA.
Proceeds for general business and agricultural purposes; prepayment without penalty permitted.

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

Limoneira CO incurred credit facility of $115,000,000 comprised of $114,000,000 under the Revolving Credit Supplement and $1,000,000 under the Non-Revolving Cred with AgWest Farm Credit, PCA at initial interest rate in effect under the Revolving Credit Supplement is 6.600% maturing July 1, 2030.

Instrument: credit facility
Principal: $115,000,000 comprised of $114,000,000 under the Revolving Credit Supplement and $1,000,000 under the Non-Revolving Cred
Counterparty: AgWest Farm Credit, PCA
Rate: initial interest rate in effect under the Revolving Credit Supplement is 6.600%
Maturity: July 1, 2030
Event: incurrence

Exact text from the filing

The MLA amends and restates the Master Loan Agreement between the Company and the Lender, dated March 27, 2024. The Supplements provide aggregate borrowing capacity of $115,000,000 comprised of $114,000,000 under the Revolving Credit Supplement and $1,000,000 under the Non-Revolving Credit Supplement. For amounts outstanding under both Supplements interest

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Source: SEC EDGAR

accession 0001104659-25-065035

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