---
schema_version: "secwatch.filing_event.v1"
accession: "0001981599-25-000038"
form_type: "8-K"
ticker: "CTRI"
cik: "0001981599"
company_name: "Centuri Holdings, Inc."
filed_at: "2025-07-14T23:59:59+00:00"
generated_at: "2026-05-18T06:46:52.648292+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Centuri Holdings refinances debt with $800M term loan, extends revolver to 2030, lowers rate

## Summary
- New $800M term loan facility maturing July 2032; $93.6M new money, $706.4M refinanced existing term loans.
- Revolving credit facility increased to $450M (from $400M), maturity extended from Aug 2026 to July 2030.
- Interest rate margin decreased by 0.25% to 2.25% (SOFR) and 1.25% (base rate).
- Change in control covenant relaxed: Southwest Gas can go below 51% without triggering default.
- Leverage covenant set at 4.50x through Sep 2026 then 4.00x; interest coverage min 2.50x.

## SEC filing metadata
- accession: 0001981599-25-000038
- form_type: 8-K
- ticker: CTRI
- cik: 0001981599
- company_name: Centuri Holdings, Inc.
- filed_at: 2025-07-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/ctri-20250709.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001981599-25-000038
- JSON: https://secwatch.observer/filing/0001981599-25-000038.json
- Plain text: https://secwatch.observer/filing/0001981599-25-000038.txt

## Key facts
- Debt Financings
  Centuri Holdings, Inc. amended credit facility of $800 million term loan facility with Wells Fargo Bank, National Association, as administrative agent at decreasing the interest rate margin applicable to term loans by 0.25% to 2.25% f maturing July 9, 2032.
  - Instrument: credit facility
  - Principal: $800 million term loan facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Rate: decreasing the interest rate margin applicable to term loans by 0.25% to 2.25% f
  - Maturity: July 9, 2032
  - Event: amendment
  source text: (c) refinance and replace in full the existing term loan facility with an $800 million term loan facility with a maturity date of July 9, 2032
  evidence_url: https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm
- Debt Financings
  Centuri Holdings, Inc. amended revolving credit of increase the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million with Wells Fargo Bank, National Association, as administrative agent maturing July 9, 2030.
  - Instrument: revolving credit
  - Principal: increase the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Maturity: July 9, 2030
  - Event: amendment
  source text: and $706.4 million of which was used to refinance existing term loans; (d) increase the maximum principal amount of the senior secured revolving credit facility from $400 million to $450 million; (e) extend the maturity date of the senior secured revolving credit facility from August 27, 2026 to July 9, 2030; (f) make certain adjustments to pricing,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1981599/000198159925000038/0001981599-25-000038-index.htm

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