Limbach Holdings signs USD 300 million credit facility with PNC Bank
LMB•Covenants and leverage terms
Covenants include a maximum net leverage ratio of 3.0x and a minimum fixed charge coverage ratio of 1.15x. The leverage cap can rise to 3.5x following an acquisition.
Proceeds used to repay existing borrowings
Proceeds repaid about USD 118.1 million outstanding under the terminated Wintrust revolving facility. No early termination penalties were disclosed.
New credit facility replaces Wintrust agreement
Limbach Holdings entered a new credit agreement with PNC Bank on Sept. 9, 2026, replacing its Wintrust credit facility.
The facility totals up to USD 300 million, including a USD 200 million revolver, a USD 50 million term loan, and a USD 50 million delayed-draw term loan. The agreement matures Sept. 9, 2031.
Pricing is set at base rate plus 0.5%-1.5% or term SOFR plus 1.5%-2.5%.
