IES Holdings expands revolving credit facility to $300 million from $150 million
IES Holdings entered an amended credit agreement on January 21, 2025, that raises its revolving credit facility to $300 million from $150 million and extends maturity to January 21, 2030. The filing says the facility moves from an asset-based structure limited by eligible collateral to a cash flow-based facility with financial ratio covenants, which increases the company's borrowing capacity.
- Revolver capacity rises from $150 million to $300 million; maturity extended from September 30, 2026 to January 21, 2030
- Financial covenants include a maximum Consolidated Total Leverage Ratio of 3.00 to 1.00 and a minimum Consolidated Interest Coverage Ratio of 3.00 to 1.00
- Borrowings bear interest at Base Rate plus 0.50% to 1.25%, or Daily Simple SOFR or Term SOFR plus 1.50% to 2.25%; unused commitment fee is 0.25% to 0.35%
- Wells Fargo Bank, National Association is administrative agent; Fifth Third Bank, National Association is a joint lead arranger