WORTHINGTON ENTERPRISES, INC. (WOR) Form 8-K — Aug 31, 2026
On August 31, 2026, Worthington Enterprises amended and restated its five-year revolving credit facility, entering into the Fifth Amended and Restated Credit Agreement with a syndicate led by PNC Bank, National Association as administrative agent. The refinancing keeps aggregate revolving commitments at $500 million but extends the final maturity from September 27, 2028 to August 31, 2031. The unsecured facility retains a $75 million letter of credit sublimit, a $50 million swingline commitment, and accordion capacity to add up to $300 million of incremental commitments or term loans in $10 million increments.
Key figures
- Debt Amount
- 500000000
- Interest Rate
- floating — Alternate Base Rate or Term SOFR/Daily Simple SOFR plus a leverage-based margin ranging from 0.125% to 1.500%
- Maturity Date
- August 31, 2031
- Facility Type
- syndicated unsecured revolving credit facility
- Fronting Fee Rate
- 0.125% of letter of credit face amount
- Prior Maturity Date
- September 27, 2028
- Accordion Capacity Usd
- 300000000
- Swingline Commitment Usd
- 50000000
- Interest Coverage Covenant
- minimum 3.25 to 1.00 (Consolidated EBITDA / Consolidated Interest Expense)
- Letter Of Credit Sublimit Usd
- 75000000
- Accordion Minimum Increment Usd
- 10000000
- Facility Fee Rate At Effective Date
- 12.5 basis points
- Participation Fee Rate At Effective Date
- 112.5 basis points
- Borrowings Outstanding At Effective Date
- 0
- Indebtedness To Indebtedness Plus Net Worth Cap
- 55%
- Letters Of Credit Outstanding At Effective Date
- 0
Price after filing
Close on the filing date to close N calendar days later (from $57.44). Historical, not a forecast.
AI analysis
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