Douglas Dynamics amends credit agreement to temporarily raise leverage ratio covenant

DOUGLAS DYNAMICS, INC

Leverage ratio raised from 3.50x to 4.25x for Q4 2023; 4.00x for Q1/Q2 2024; returns to 3.50x from Q3 2024.
Amendment No. 3 modifies Section 7.18(a) of the Credit Agreement dated June 9, 2021.
Amendment approved by required lenders and administrative agent JPMorgan Chase Bank, N.A.
Borrowers paid consent fee of 0.05% of each lender's commitments and term loans.
No default or event of default existed at effectiveness; loan parties reaffirmed obligations.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DOUGLAS DYNAMICS, INC amended Amendment No. 3 to Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders listed therein (effective 2024-01-29).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent, and the lenders listed therein
Effective: 2024-01-29

Exact text from the filing

On January 29, 2024, the Company entered into that certain Amendment No. 3 to Credit Agreement ("Amendment No. 3") by and among the Company, the Borrowers, the financial institutions listed in Amendment No. 3 as lenders, and JPMorgan Chase Bank, N.A., as administrative agent, which amended the Credit Agreement by modifying the minimum required Leverage Ratio

View on SEC.gov

380 material agreements filed in the last 30 days. Browse all material agreements →

DOUGLAS DYNAMICS, INC filing history →

Source: SEC EDGAR

accession 0001437749-24-002511

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.