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.

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