---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-006338"
form_type: "8-K"
ticker: "FRD"
cik: "0000039092"
company_name: "FRIEDMAN INDUSTRIES INC"
filed_at: "2022-03-15T23:59:59+00:00"
generated_at: "2026-06-26T22:58:01.616407+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Friedman Industries increases ABL facility from $40M to $75M, shifts to SOFR-based rate

## Summary
- Asset-based revolver raised from $40M to $75M; accordion feature allows up to $10M additional increase.
- Interest on Term SOFR borrowings: SOFR + 0.10% adjustment + 1.70% margin per annum.
- Non-SOFR borrowings accrue at Prime Rate; transition from LIBOR to Term SOFR effective March 11, 2022.
- Amendment cited recent market volatility and geopolitical uncertainty as precautionary reasons.
- JPMorgan Chase Bank remains administrative agent; lenders party to A&R Credit Agreement.

## SEC filing metadata
- accession: 0001437749-22-006338
- form_type: 8-K
- ticker: FRD
- cik: 0000039092
- company_name: FRIEDMAN INDUSTRIES INC
- filed_at: 2022-03-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39092/000143774922006338/0001437749-22-006338-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39092/000143774922006338/frd20220315_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-006338
- JSON: https://secwatch.observer/filing/0001437749-22-006338.json
- Plain text: https://secwatch.observer/filing/0001437749-22-006338.txt

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