secwatch.observer — SEC 8-K summary
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Issuer:     Construction Partners, Inc. (ROAD)
CIK:        0001718227
Form:       8-K
Filed at:   2025-07-02T23:59:59+00:00
Accession:  0001193125-25-154409
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Construction Partners upsizes revolver to $500M, term loan to $600M, extends maturity to 2030
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- Revolving credit facility increased from $400M to $500M; term loan A increased from $400M to $600M.
- Maturity extended to June 28, 2030; outstanding revolver balance paid off as of June 30, 2025.
- New lenders TD Bank and City National Bank added; new subsidiaries joined as borrowers.
- Replaced fixed charge coverage ratio with interest coverage ratio of 3.00x; net leverage covenant steps down to 3.75x.
- Incremental facility up to $400M (or EBITDA) available; SOFR margin no longer subject to 0.10% adjustment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718227/000119312525154409/0001193125-25-154409-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718227/000119312525154409/d22666d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-154409

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