Limbach Holdings, Inc. (LMB) Form 8-K — Sep 9, 2026
Limbach Holdings entered into a new five-year credit agreement with PNC Bank on September 9, 2026, providing up to $300.0 million of committed capacity: a $200.0 million revolving credit facility (with $20.0 million swingline and $25.0 million letter-of-credit subfacilities), a $50.0 million term loan, and a $50.0 million delayed draw term loan, all maturing September 9, 2031. The PNC facility replaces Limbach's prior $125.0 million revolver with Wheaton Bank & Trust (a Wintrust Financial subsidiary), under which the company repaid approximately $118.1 million of principal with no early termination penalties or prepayment fees.
Key figures
- Debt Amount
- $300.0 million aggregate PNC Credit Facility
- Interest Rate
- Term SOFR + 1.50%-2.50% or Base Rate + 0.50%-1.50% (leverage-based grid; closing pricing at Level II, i.e., Term SOFR + 1.75%)
- Maturity Date
- September 9, 2031
- Commitment fee
- 0.20%-0.35% on average daily unused revolving and delayed draw commitments
- Prior facility
- $125.0 million Wintrust/Wheaton revolving credit facility
- Amortization start
- December 31, 2026 (quarterly principal installments)
- Term loan facility
- $50.0 million
- Incremental capacity
- greater of $150.0 million and 100% of Consolidated EBITDA
- Swingline subfacility
- $20.0 million
- Termination penalties
- none (no early termination penalties, prepayment fees, or material fees)
- Legacy letters of credit
- $7.0 million face amount remaining with Wheaton (latest expiry April 2027, cash-collateralized until replaced)
- Revolving credit facility
- $200.0 million
- Letter of credit subfacility
- $25.0 million
- Delayed draw term loan facility
- $50.0 million
- Principal repaid on termination
- $118.1 million
- Max consolidated net leverage ratio
- 3.00:1.00 (steppable to 3.50:1.00 for four quarters after qualifying acquisitions)
- Delayed draw availability expiration
- March 9, 2028
- Min consolidated fixed charge coverage ratio
- 1.15:1.00
Price after filing
Close on the filing date to close N calendar days later (from $48.81). Historical, not a forecast.
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