WABASH NATIONAL Corp (WNC) Form 8-K — Aug 13, 2026
Wabash National Corporation entered into a Sixth Amendment to its Second Amended and Restated Credit Agreement on August 12, 2026, continuing a $300 million asset-based revolving credit facility with Wells Fargo Capital Finance, LLC as administrative agent. The facility matures as early as August 12, 2031, subject to springing maturity triggers tied to the company's 4.50% Senior Notes due 2028 and 4.00% Convertible Senior Notes due 2032. Borrowings price at term SOFR plus a 1.50%-2.00% margin or base rate plus 0.50%-1.00%, with a $25 million letter of credit subfacility, $30 million of swingline capacity, and an option to increase commitments by up to $175 million.
Key figures
- Debt Amount
- 300000000
- Interest Rate
- term SOFR plus 1.50%-2.00% margin, or base rate plus 0.50%-1.00% margin
- Maturity Date
- August 12, 2031 (subject to earlier springing maturity)
- Facility type
- asset-based revolving credit facility (borrowing base: eligible inventory, eligible leasing inventory, eligible accounts receivable)
- Springing fccr
- 1.0x minimum fixed charge coverage ratio when excess availability is below the greater of 10% of the lesser of total commitments and borrowing base, and $25 million
- Unused line fee
- 0.20% monthly on average daily unused availability
- Upsizing option
- up to $175 million additional commitments
- Referenced notes
- 4.50% Senior Notes due 2028; 4.00% Convertible Senior Notes due 2032
- Availability block
- $40 million until Financial Covenant Conversion Date
- Swingline capacity
- $30 million
- Cross default trigger
- $40 million of loan-party debt outstanding
- Cash hoarding threshold
- $70 million (mandatory prepayment if cash on hand exceeds this)
- Minimum liquidity covenant
- $90 million at all times prior to Financial Covenant Conversion Date
- Letter of credit subfacility
- $25 million
- Closing condition excess availability
- $120 million
Price after filing
Close on the filing date to close N calendar days later (from $12.49). Historical, not a forecast.
AI analysis
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