Oil-Dri ups BMO revolving credit facility to $100 million, extends maturity to 2031
ODC•Oil-Dri increased borrowing capacity under its BMO revolving credit facility to $100 million from $75 million and extended maturity to Oct. 7, 2031. It also expanded its Prudential shelf note facility to $150 million from $75 million.
1. Credit facilities amended
Oil-Dri entered a ninth amendment to its BMO revolving credit agreement on Oct. 7, 2026. The amendment increased the accordion feature to the greater of $125 million or 100% of consolidated EBITDA, subject to conditions, loosened some covenant thresholds and added a restricted payments covenant limiting dividends and buybacks when the company is in default. The separate Prudential shelf note facility was expanded to $150 million from $75 million, with its issuance window extended to Oct. 7, 2029.
