DOUGLAS DYNAMICS, INC (PLOW): debt financing — Douglas Dynamics refinances with $150M term loan and $125M revolver due 2030

DOUGLAS DYNAMICS, INC

New credit agreement includes $150M senior secured term loan and $125M revolving facility.
Facilities mature March 26, 2030; replace prior credit agreement dated June 2021.
Term loan interest at SOFR plus 1.375%-2.00%; revolver rates similarly based on leverage.
Leverage ratio covenant ≤3.50x; interest coverage ≥3.00x; secured by substantially all personal property.
Proceeds used to refinance existing term loan and revolving facilities under original credit agreement.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DOUGLAS DYNAMICS, INC incurred revolving credit of $125.0 million with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus a margin ranging from 1.375% to 2.000%, or a margin ranging maturing March 26, 2030.

Instrument: revolving credit
Principal: $125.0 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Term SOFR Rate plus a margin ranging from 1.375% to 2.000%, or a margin ranging
Maturity: March 26, 2030
Event: incurrence

Exact text from the filing

a senior secured revolving credit facility available to the Revolving Loan Borrowers in the amount of $125.0 million

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DOUGLAS DYNAMICS, INC incurred credit facility of $150.0 million with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus a margin ranging from 1.375% to 2.000% maturing March 26, 2030.

Instrument: credit facility
Principal: $150.0 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Term SOFR Rate plus a margin ranging from 1.375% to 2.000%
Maturity: March 26, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a senior secured term loan to the Term Loan Borrower in the amount of $150.0 million

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Source: SEC EDGAR

accession 0001437749-25-009834

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