SUPERIOR GROUP OF COMPANIES, INC. (SGC) Form 8-K — Aug 11, 2026
Superior Group of Companies entered into a five-year Amended and Restated Credit Agreement with PNC Bank, National Association on August 7, 2026, establishing a $200 million senior secured credit facility comprised of a $125 million revolving credit facility and a $75 million term loan. The facilities bear interest at SOFR plus a margin of 1.125% to 2.125% depending on the company's consolidated total net leverage ratio, carry a 0.125%-0.250% commitment fee on the unused revolver, and include the ability to request up to an additional $75 million of incremental facilities. The agreement requires a fixed charge coverage ratio of at least 1.25 to 1.0 and caps net leverage at 4.0 to 1.0.
Key figures
- Debt Amount
- 200000000
- Interest Rate
- SOFR + 1.125% to 2.125% (leverage-based pricing grid)
- Maturity Date
- 2031-08-07
- Term Loan
- 75000000
- Facility Term
- 5 years
- Commitment Fee
- 0.125% to 0.250% on unused revolver
- Incremental Capacity
- 75000000
- Max Net Leverage Ratio
- 4
- Revolving Credit Facility
- 125000000
- Min Fixed Charge Coverage Ratio
- 1.25
- Permitted Acquisition Threshold
- 30000000
- Prior Revolver Outstanding Repaid
- 29000000
- Prior Term Loan Outstanding Repaid
- 56250000
Price after filing
Close on the filing date to close N calendar days later (from $12.80). Historical, not a forecast.
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