---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-036006"
form_type: "8-K"
ticker: "KNF"
cik: "0001955520"
company_name: "Knife River Corp"
filed_at: "2026-05-18T20:45:21+00:00"
generated_at: "2026-05-18T20:47:12.883476+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Knife River upsizes term loans by $400M, reduces interest margin by 25bps

## Summary
- Increased term B loans by $400M aggregate principal; total outstanding now $895M.
- Interest rate margin reduced by 0.25%; SOFR loans at 1.75%, base rate at 0.75%.
- Proceeds will refinance existing term B loans, repay revolver borrowings, and for working capital and general corporate purposes.
- Second Amendment dated May 15, 2026; JPMorgan Chase Bank, N.A. is administrative agent.

## SEC filing metadata
- accession: 0001628280-26-036006
- form_type: 8-K
- ticker: KNF
- cik: 0001955520
- company_name: Knife River Corp
- filed_at: 2026-05-18T20:45:21+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1955520/000162828026036006/0001628280-26-036006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1955520/000162828026036006/knf-20260515.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-036006
- JSON: https://secwatch.observer/filing/0001628280-26-036006.json
- Plain text: https://secwatch.observer/filing/0001628280-26-036006.txt

## Key facts
- Debt Financings
  Knife River Corp amended term loan of $400 million with JPMorgan Chase Bank, N.A., as administrative agent at 1.75% per annum, in the case of SOFR loans, or 0.75% per annum, in the case of a.
  - Instrument: term loan
  - Principal: $400 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: 1.75% per annum, in the case of SOFR loans, or 0.75% per annum, in the case of a
  - Event: amendment
  source text: On May 15, 2026, Knife River Corporation (the “Company”) and certain of its subsidiaries entered into that certain Second Amendment (the “Second Amendment”) with the lenders and other parties party thereto and JPMorgan Chase Bank, N.A., as administrative agent, amending that certain Credit Agreement, dated as of May 31, 2023 (as previously amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement”), among the Company, the lenders and other parties party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. Pursuant to the terms of the Second Amendment, the Company increased the existing term B loans (the “Existing Term B Loans”) by an aggregate principal amount of $400 million and reduced the interest rate margin applicable thereto by 0.25%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1955520/000162828026036006/0001628280-26-036006-index.htm
- Material Agreements
  Knife River Corp amended Second Amendment with JPMorgan Chase Bank, N.A., as administrative agent valued at $400 million (effective 2026-05-15).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Value: $400 million
  - Effective: 2026-05-15
  source text: On May 15, 2026, Knife River Corporation (the “Company”) and certain of its subsidiaries entered into that certain Second Amendment (the “Second Amendment”) with the lenders and other parties party thereto and JPMorgan Chase Bank, N.A., as administrative agent, amending that certain Credit Agreement, dated as of May 31, 2023 (as previously amended, restated, amended and restated, supplemented or otherwise modified, the “Credit Agreement”), among the Company, the lenders and other parties party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. Pursuant to the terms of the Second Amendment, the Company increased the existing term B loans (the “Existing Term B Loans”) by an aggregate principal amount of $400 million and reduced the interest rate margin applicable thereto by 0.25%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1955520/000162828026036006/0001628280-26-036006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.