Generac enters $750M term loan and $1.25B revolver, repays $250M of existing term loans

GENERAC HOLDINGS INC.

Third Amendment establishes $750M 2022 Tranche A Term Loan and $1.25B revolving credit facility, maturing June 29, 2027.
Used $250M of new Term A Loans to prepay existing Term B Loans; total outstanding Term B Loans reduced from $780M to $530M.
ABL revolving credit facility ($0 balance) prepaid and terminated; all obligations thereunder discharged.
New facilities bear interest at SOFR/SONIA plus 1.25%-1.75% margin; existing Term B Loans switched to SOFR plus 1.75%.
Financial covenants: total leverage ratio ≤ 3.75x (4.25x after large acquisitions) and interest coverage ratio ≥ 3.00x.

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