Twin Disc entered into a new secured Credit Agreement to refinance its prior facility and strengthen liquidity. The deal provides $30 million in term loans maturing June 30, 2031, with increasing quarterly principal payments, and a $60 million revolving credit commitment that includes a $5 million swingline and a $4 million letter of credit sublimit. Interest is based on benchmark rates such as SOFR plus an applicable margin, and the loans are secured by substantially all personal property and certain equity pledges. Management expects the facility to enhance financial flexibility.
Agreement details:
- Agreement type: Secured credit agreement with $30M term loan and $60M revolving facility
- Counterparty: Bank of Montreal and JPMorgan Chase Bank
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: Through Jun 30 2031
- Reason: Refinance debt and enhance liquidity
Original SEC Filing:
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