AMVAC Chemical amends credit facility; loosens leverage covenants, restricts dividends and buybacks

AMERICAN VANGUARD CORP

Maximum Total Leverage Ratio raised to 6.25x for Q1/Q2 2025, then 5.75x for Q3, returning to 3.25x year-end.
Minimum Fixed Charge Coverage Ratio lowered to 1.15x for Q1 2025, then 1.25x thereafter.
Borrowing capacity reduced by $50M-$75M through 2026; no share repurchases or dividends without lender consent.
EBITDA add-back basket up to $50M for SIMPAS discontinuation and inventory write-downs.
Interest rates set at SOFR+3.75%, Base Rate+2.75%; additional reporting including 13-week cash flow forecasts.

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