ENERPAC TOOL GROUP CORP (EPAC) Form 8-K — Oct 19, 2026
Enerpac Tool Group entered into an Amended and Restated Credit Agreement with PNC Bank on October 16, 2026, replacing its 2022 facility. The new agreement provides a $550 million revolving credit facility with a $200 million foreign currency sublimit and a $300 million term loan, maturing on October 16, 2031. Initial borrowings bear interest at term SOFR plus 1.125%, with spreads adjustable from 1.125% to 1.875% based on net leverage. The agreement permits up to $425 million of incremental facilities and includes covenants capping net leverage at 3.75:1.00 and requiring minimum interest coverage of 3.00:1.00.
Key figures
- Debt Amount
- $850,000,000 total facilities ($550M revolver + $300M term loan)
- Interest Rate
- Term SOFR plus 1.125% per annum initially; spread range 1.125%-1.875%
- Maturity Date
- October 16, 2031
- Term loan
- $300,000,000
- Prior facility
- $625M revolver + $200M term loan maturing September 9, 2027
- Incremental capacity
- $425,000,000
- Net leverage covenant
- 3.75:1.00 (4.25:1.00 acquisition holiday)
- Revolving credit facility
- $550,000,000
- Interest coverage covenant
- 3.00:1.00 minimum
- Alternative currency sublimit
- $200,000,000
- Quarterly term loan amortization
- $0.9375M from March 2028, rising to $1.875M in 2029 and $3.750M in 2030
AI analysis
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