Enpro amends credit agreement, sets $800.0 million revolving facility maturing 2030
Enpro Inc. entered into a Second Amendment to its Third Amended and Restated Credit Agreement on April 9, 2025, providing a senior secured revolving credit facility of up to $800.0 million that matures on April 9, 2030. The filing also describes an incremental term loan or revolving commitment option, pricing, financial covenants and collateral, and states that the facility is secured by substantially all assets of Enpro and its subsidiary guarantors.
- Revolving credit facility of up to $800.0 million, maturing April 9, 2030
- Initial margin of 1.375% for Term SOFR borrowings and 0.375% for alternate base rate borrowings; commitment fee of 0.175% on unused amounts
- Maximum consolidated total net leverage ratio of 4.0 to 1.0, rising to 4.5 to 1.0 for four quarters after a significant acquisition; minimum interest coverage ratio of 2.5 to 1.0
- Incremental term loan or revolving capacity of the greater of $275.0 million and 100% of trailing four-quarter consolidated EBITDA, plus amounts based on a senior secured leverage ratio