Hamilton Beach Brands enters $125M revolving credit facility with Wells Fargo, matures 2029

Hamilton Beach Brands Holding Co

$125M senior secured asset-based revolving credit facility; $5M letter of credit subfacility.
Interest at Term SOFR + 1.65% or Base Rate + 0.00% per annum, at borrower's option.
Maturity date December 13, 2029; replaces prior 2012 credit agreement.
Fixed Charge Coverage Ratio of 1.00x required if Excess Availability falls below $15M.
Facility secured by substantially all assets of Hamilton Beach Brands.

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