debt
confidence high
sentiment positive
materiality 0.75
Arcosa enters credit amendment for $1.2B Stavola acquisition; $700M Term Loan B, $600M notes at 6.875%
Arcosa, Inc.
- Amendment permits $1.2B cash acquisition of Stavola Holding Corporation's construction materials business.
- Term Loan B facility up to $700M at SOFR+2.25%, maturing 2031, with 0.25% quarterly amortization.
- $600M senior unsecured notes priced at 6.875% due 2032; proceeds used for acquisition and fees.
- Revolving commitments increased from $600M to $700M; leverage ratio covenant modified to 5.00x near closing.
- Amendment adds substantially all personal property as collateral; effective upon acquisition closing conditions.