ARRAY Technologies Increases Revolver to $370M, Extends Maturity to 2031
ARRAY Technologies has upsized its revolving credit facility from $166 million to $370 million and extended its maturity over two years to February 18, 2031, including a $250 million letter-of-credit sublimit. The expanded facility, arranged by Goldman Sachs with J.P. Morgan, Wells Fargo, PNC, HSBC and other lenders, boosts the company’s liquidity to support working capital, operational execution and global growth initiatives.
1. Facility Expansion Details
On February 18, 2026, ARRAY Technologies amended its revolving credit agreement, raising the commitment from $166 million to $370 million and extending maturity from October 14, 2028 to February 18, 2031. The amendment includes a $250 million sublimit for letters of credit.
2. Syndicate Composition
Goldman Sachs Bank USA acted as lead arranger and administrative agent, joined by joint lead arrangers J.P. Morgan, Wells Fargo Securities, PNC Capital Markets and HSBC Bank USA, plus participating lenders Royal Bank of Canada, BNP Paribas, Morgan Stanley Senior Funding and Jefferies.
3. Strategic Impact on Liquidity
The enlarged facility increases the company’s funding capacity and flexibility, enhancing working capital management, supporting operational execution in utility-scale solar tracking projects and funding global growth initiatives.
4. Executive Commentary
CFO H. Keith Jennings stated the upsizing reflects improving outlook and disciplined financial management, noting the new lenders’ participation as validation of the company’s strategy and market leadership.