MYR Group enters $690 million revolving credit facility led by JPMorgan, BofA, Wells Fargo
MYRG•Borrowing uses and key terms
Borrowings are intended to refinance existing debt, support working capital, capital spending, acquisitions, and general corporate purposes.
The deal replaces the May 31, 2023 facility, which had a $490 million revolver and a $200 million expansion option.
The expansion option allows up to $445 million of added revolver commitments or incremental term loans, subject to conditions.
Pricing is set at ABR plus 0.25% to 1.0% or Term Benchmark Rate plus 1.25% to 2.0%, based on net leverage.
Financial covenants include a maximum net leverage ratio of 3.0 and a minimum interest coverage ratio of 3.0.
Debt is secured by substantially all assets of the company and domestic subsidiaries, with equity pledges including 65% of direct foreign subsidiaries.
MYR Group signs new five-year credit agreement
MYR Group entered a five-year Fourth Amended and Restated Credit Agreement on Sept. 8, 2026 with a bank syndicate.
Facilities include a $690 million revolving credit facility, a $150 million term loan tranche, and a .
