Harsco amends $700M revolver; relaxes leverage covenants through 2024

ENVIRI Corp

Amendment No. 12 to the $700M revolving credit facility caps total net leverage at 5.50x through end of 2023, stepping down to 4.00x by Q4 2024.
Interest coverage covenant reduced to 2.75x through end of 2024 (subject to 0.25x increase upon Rail disposition).
Relief period extended to December 31, 2024; pricing grid revised with LIBOR spread ranging from 150 to 275 bps.
Certain negative covenant exceptions suspended during relief period; significant acquisition step-up also suspended.
Amendment No. 11 (technical fix) also entered into on August 19, 2022, but immaterial.

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