Arcosa increases revolver to $600M, extends maturity to 2028, repays $133M term loan

Arcosa, Inc.

Second Amended & Restated Credit Agreement ups revolving line from $500M to $600M, maturing August 23, 2028.
Remaining $133.1M term loan balance refinanced and repaid in full.
As of August 23, ~$100M revolver drawn and ~$22M in letters of credit, leaving ~$478M undrawn.
Interest on SOFR borrowings set at SOFR + 10 bps credit spread adjustment + margin of 1.50% (based on leverage).
Certain material domestic subsidiaries guaranteed the obligations under the new credit agreement.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.99

Arcosa, Inc. amended Second Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A. valued at $600 million revolving line of credit, interest rates based on SOFR plus 1.50% margin as of August 2 (effective 2023-08-23).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $600 million revolving line of credit, interest rates based on SOFR plus 1.50% margin as of August 2
Effective: 2023-08-23

Exact text from the filing

On August 23, 2023, Arcosa, Inc. (“Arcosa”) entered into a Second Amended and Restated Credit Agreement (the “Second A/R Credit Agreement”), among Arcosa, as borrower, the lenders party thereto, JPMorgan Chase Bank, N.A. (“JPMorgan”), as administrative agent, and the other parties thereto.

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Arcosa, Inc. filing history →

Source: SEC EDGAR

accession 0001739445-23-000137

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