Granite Construction enters $350M credit facility amendment, extends maturity to 2027

GRANITE CONSTRUCTION INC

$350M revolver with letter of credit sublimit of $150M and financial LC sublimit of $75M.
Maturity extended to June 2, 2027; LIBOR replaced with SOFR for interest calculations.
Interest rate margins: 1.00%-2.00% for Term SOFR loans; 0.00%-1.00% for Base Rate loans.
Financial covenants: min interest coverage ratio 3.00x, max leverage ratio 3.25x (3.75x post-acquisition).
ESG performance targets may adjust commitment fee by 0.001% and interest rate by 0.005%.

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