Wabash National amends credit agreement for USD 300 million revolving facility

Wabash National entered into a sixth amendment to its credit agreement with lenders led by Wells Fargo Capital Finance as administrative agent.

• The company maintained its $300 million revolving credit facility.
• Wabash also has the option to increase total commitments by up to $175 million, subject to lender commitments.
• The maturity is set at the earliest of Aug. 12, 2031 or springing dates tied to upcoming note maturities or other $40 million-plus debt.
• Pricing is set at term SOFR plus 1.5% to 2% or base rate plus 0.5% to 1%, based on monthly average excess availability.
• A minimum liquidity requirement of $90 million is set before a covenant step-down.
• The facility is secured by substantially all personal property of the borrowers and guarantors.