---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-21-022463"
form_type: "8-K"
ticker: "PPIH"
cik: "0000914122"
company_name: "Perma-Pipe International Holdings, Inc."
filed_at: "2021-09-21T23:59:59+00:00"
generated_at: "2026-06-29T02:29:59.120314+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Perma-Pipe enters $18M secured revolving credit facility maturing 2026; waives prior covenant defaults

## Summary
- New five-year $18M senior secured revolver with PNC Bank, borrowing base subject to reserves.
- Interest at ABR + 1.00-1.50% or LIBOR + 2.00-2.50% based on fixed charge coverage ratio.
- 0.25% per annum facility fee on unused portion; $5M annual cap on capital expenditures.
- PNC waived existing financial covenant defaults for fiscal quarters ending Jan, Apr, Jul 2021.
- Facility secured by substantially all North American loan party assets; maturity September 2026.

## SEC filing metadata
- accession: 0001437749-21-022463
- form_type: 8-K
- ticker: PPIH
- cik: 0000914122
- company_name: Perma-Pipe International Holdings, Inc.
- filed_at: 2021-09-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/914122/000143774921022463/0001437749-21-022463-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/914122/000143774921022463/ppih20210915_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-21-022463
- JSON: https://secwatch.observer/filing/0001437749-21-022463.json
- Plain text: https://secwatch.observer/filing/0001437749-21-022463.txt

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