---
schema_version: "secwatch.filing_event.v1"
accession: "0001402829-25-000065"
form_type: "8-K"
ticker: "ORN"
cik: "0001402829"
company_name: "Orion Group Holdings Inc"
filed_at: "2025-12-29T23:59:59+00:00"
generated_at: "2026-05-16T12:05:31.535779+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Orion closes $120M refinancing with UMB; replaces $88M prior facility at lower cost

## Summary
- New $120M credit facility: $60M revolver, $20M equipment term, $40M acquisition term; matures Dec 2030.
- Rates at SOFR + 2.5%-3.0%, ~225 bps below the prior $88M facility; paid $1.1M make-whole to terminate old debt.
- Proceeds used to repay $23M in outstanding borrowings under prior facility and for general corporate purposes.
- Includes $25M uncommitted accordion to fund future acquisitions; liquidity and borrowing capacity increased.

## SEC filing metadata
- accession: 0001402829-25-000065
- form_type: 8-K
- ticker: ORN
- cik: 0001402829
- company_name: Orion Group Holdings Inc
- filed_at: 2025-12-29T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1402829/000140282925000065/0001402829-25-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1402829/000140282925000065/orn-20251223x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001402829-25-000065
- JSON: https://secwatch.observer/filing/0001402829-25-000065.json
- Plain text: https://secwatch.observer/filing/0001402829-25-000065.txt

## Key facts
- Debt Financings
  Orion Group Holdings Inc incurred credit facility of $120.0 million with UMB Bank, N.A. at ABR Rate or SOFR Rate plus applicable rate maturing December 2030.
  - Instrument: credit facility
  - Principal: $120.0 million
  - Counterparty: UMB Bank, N.A.
  - Rate: ABR Rate or SOFR Rate plus applicable rate
  - Maturity: December 2030
  - Event: incurrence
  source text: On December 23, 2025, Orion Group Holdings, Inc., as borrower (the “Company”) entered into a $120.0 million Credit Agreement (the “Credit Agreement”) with certain financial institutions from time-to-time party thereto, as lenders, and UMB Bank, N.A., as Administrative Agent and Issuing Bank (the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402829/000140282925000065/0001402829-25-000065-index.htm
- Material Agreements
  Orion Group Holdings Inc entered into Credit Agreement with certain financial institutions from time-to-time party thereto, as lenders, and UMB Bank, N.A., as Administrative Agent and Issuing Bank valued at $120.0 million (effective 2025-12-23).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: certain financial institutions from time-to-time party thereto, as lenders, and UMB Bank, N.A., as Administrative Agent and Issuing Bank
  - Value: $120.0 million
  - Effective: 2025-12-23
  source text: On December 23, 2025, Orion Group Holdings, Inc., as borrower (the “Company”) entered into a $120.0 million Credit Agreement (the “Credit Agreement”) with certain financial institutions from time-to-time party thereto, as lenders, and UMB Bank, N.A., as Administrative Agent and Issuing Bank (the “Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402829/000140282925000065/0001402829-25-000065-index.htm
- Material Agreements
  Orion Group Holdings Inc terminated Prior Credit Agreement with White Oak ABL, LLC and White Oak Commercial Finance, LLC valued at approximately $1.1 million (effective 2025-12-23).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: White Oak ABL, LLC and White Oak Commercial Finance, LLC
  - Value: approximately $1.1 million
  - Effective: 2025-12-23
  source text: On December 23, 2025, in connection with entering into the Credit Agreement, the Company’s prior Credit Agreement, dated May 15, 2023, with White Oak ABL, LLC and White Oak Commercial Finance, LLC (the “Prior Credit Agreement) was terminated, and all amounts outstanding thereunder were repaid.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1402829/000140282925000065/0001402829-25-000065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.