debt
confidence high
sentiment positive
materiality 0.70
Wabash National amends credit facility: $350M revolver, maturity extended to 2027
WABASH NATIONAL Corp
- Revolving commitments increased to $350M with $175M accordion; maturity extended to Sept 23, 2027.
- Interest rate pricing based on SOFR plus 1.25%-1.75% or base rate plus 0.25%-0.75%.
- JPMorgan Chase joined as a new lender; Citizens Bank no longer syndication agent.
- Certain subsidiaries released as guarantors; collateral and guarantees reaffirmed.
- Minimum fixed charge coverage ratio of 1.0x applies when excess availability is low.