TREX CO INC (TREX): debt financing — Trex enters new $700M credit facility, replacing $550M prior facility, maturing 2031

TREX CO INC

New $700M revolving credit facility replaces prior $550M facility; term extended to March 26, 2031.
Includes $60M letter of credit sublimit and $40M swing line sublimit; interest based on Term SOFR plus 1.00%-1.75% margin.
Financial covenants: interest coverage ratio >= 2.50x and debt/EBITDA <= 3.75x (4.25x for qualifying acquisitions).
Proceeds may be used to refinance existing debt, working capital, capex, permitted acquisitions, and fees.
Security granted on substantially all assets (accounts, equipment, inventory, IP, etc.) excluding excluded property.

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

TREX CO INC amended revolving credit of $700,000,000 with Bank of America, N.A. (as Administrative Agent) at Term SOFR plus Applicable Rate (ranging from 1.00% to 1.75%) maturing March 26, 2031.

Instrument: revolving credit
Principal: $700,000,000
Counterparty: Bank of America, N.A. (as Administrative Agent)
Rate: Term SOFR plus Applicable Rate (ranging from 1.00% to 1.75%)
Maturity: March 26, 2031
Event: amendment

Exact text from the filing

Under the Credit Agreement, the Lenders agreed to provide the Company with one or more Revolving Loans in a collective maximum principal amount of $700,000,000 (Loan Limit) throughout the term, which ends March 26, 2031 (Term).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TREX CO INC amended Credit Agreement with Bank of America, N.A., Wells Fargo Bank, National Association, TD Bank, N.A., PNC Bank, National Association, Truist Bank, and Atlantic Union Bank valued at $700,000,000 (effective 2026-03-26).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., Wells Fargo Bank, National Association, TD Bank, N.A., PNC Bank, National Association, Truist Bank, and Atlantic Union Bank
Value: $700,000,000
Effective: 2026-03-26

Exact text from the filing

On March 26, 2026 Trex Company, Inc. (Company), as borrower; Bank of America, N.A. (BOA), as a Lender, Administrative Agent, Swing Line Lender and L/C Issuer; Wells Fargo Bank, National Association (Wells Fargo), and TD Bank, N.A., as Co-Syndication Agents, PNC Bank, National Association, as Documentation Agent, Truist Bank, and Atlantic Union Bank (each, a Lender and collectively, the Lenders), arranged by BofA Securities, Inc. as Joint Lead Arranger and Sole Bookrunner, Wells Fargo Securities LLC, TD Bank, N.A., and PNC Capital Markets LLC, as Joint Lead Arrangers, entered into a Credit Agreement (Credit Agreement) to amend and restate the Credit Agreement dated as of May 18, 2022

View on SEC.gov

Browse all debt financings →

TREX CO INC filing history →

Source: SEC EDGAR

accession 0001193125-26-135874

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.