Mueller Water extends ABL maturity to 2029, cuts interest 50bps, expands dividend flexibility

Mueller Water Products, Inc.

Maturity extended from July 29, 2025 to March 28, 2029 or 91 days before June 2029 senior note maturity.
Interest margins reduced ~50bps to 1.50% (SOFR)/0.50% (base rate) when avg availability >50% of commitments.
Unused commitment fee: 37.5bps if outstandings ≤50% of commitments, 25bps if >50%.
Add-backs in EBITDA calculation; new basket for captive insurance subsidiary investments permitted.
Expanded baskets for cash dividends on common stock in fiscal years 2026-2029.

item 1.01

Key facts

Extracted from this filing and checked against the source text.

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

Mueller Water Products, Inc. amended ABL Agreement (effective 2024-03-28).

Action: amendment
Agreement: credit facility
Effective: 2024-03-28

Exact text from the filing

On March 28, 2024, Mueller Water Products, Inc. (the “Company”) amended its asset based lending credit agreement (the “ABL Agreement”) to, among other things, (i) extend its maturity date from July 29, 2025 to the earlier of (a) March 28, 2029

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Mueller Water Products, Inc. filing history →

Source: SEC EDGAR

accession 0001350593-24-000025

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