Kimball Electronics enters $100M term loan facility, amends credit agreement

Kimball Electronics, Inc.

Entered $100M term loan facility under amended credit agreement; term loan matures Dec 20, 2029, with quarterly repayments starting Mar 31, 2025.
Existing $300M revolving credit commitment unchanged, maturity May 4, 2027; option to increase by $150M to $450M.
Proceeds used to refinance existing debt and pay off $100M secondary facility; $100M drawn at closing.
Subsidiary changes: KEI merged into Averna, KET to be dissolved, new KEJ entity formed and joined as loan party.
Financial covenants unchanged: max leverage 3.0x (3.5x post-acquisition), min interest coverage 3.5x.

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