Worthington Enterprises extends USD 500 million revolving credit facility maturity to Aug. 2031
WOR•Accordion and pricing terms
The accordion feature allows for up to USD 300 million of added commitments or incremental term loans, subject to lender consent.
Pricing margin ranges from 0.125% to 1.5% based on the consolidated total leverage ratio, and the facility fee is set at 0.125%.
Credit facility maturity extended
Worthington Enterprises amended and restated its syndicated unsecured revolving credit facility, keeping commitments at USD 500 million.
The final maturity was extended to Aug. 31, 2031 from Sept. 27, 2028 under the prior agreement.
Use of proceeds and borrowing status
Proceeds may be used to repay debt or fund working capital, capital expenditures and acquisitions.
No borrowings or letters of credit were outstanding at closing.
