MarineMax refinanced its borrowing arrangements with an Amended and Restated Credit Agreement that maintains a $950 million floor plan facility and adds a $150 million revolver, a $302.5 million term loan, and an $85 million delayed draw mortgage facility, all maturing in June 2031. In connection with this transaction, the company terminated its prior 2022 credit facility. The new facilities, priced over term SOFR, are secured by personal property and certain real estate and are intended to support inventory, liquidity, and growth initiatives.
New agreement details:
- Agreement type: Amended and Restated Credit Agreement with floor plan, revolver, term loan, and mortgage facilities
- Counterparty: Manufacturers and Traders Trust Company; Wells Fargo Commercial Distribution Finance; and other lenders
- Signed / Effective: Jun 29 2026 / same
- Duration / Termination: Matures Jun 2031
- Reason: Refinance debt and enhance liquidity
Terminated agreement details:
- Agreement terminated: Credit Agreement (floor plan facility)
- Counterparty: Manufacturers and Traders Trust Company; Wells Fargo Commercial Distribution Finance; and other lenders
- Original agreement date: Aug 08 2022
- Termination date: Jun 29 2026
- Termination type: Early
- Reason: Replaced by new 2031 facilities
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.