Koppers Extends $800 Million Revolving Credit Facility to 2030 Under Amendment No. 6
Koppers Inc., a subsidiary of Koppers Holdings Inc., signed Amendment No. 6 to its credit agreement on June 17, 2025. The amendment extends the maturity of the $800 million revolving credit facility and changes its financial covenant and interest rate margins. The company says the changes strengthen its capital position and financial flexibility, and the filing confirms the revised terms.
- Amendment No. 6 is dated June 17, 2025, and amends the credit agreement dated June 17, 2022, with PNC Bank, National Association, as revolving administrative agent.
- The $800 million revolving facility now matures on the earlier of 91 days before the secured term loan maturity or June 17, 2030.
- The net leverage covenant step-down to 4.50:1.00 for the quarter ending September 30, 2026 is removed, and the test is set at 4.75:1.00 for the life of the deal.
- The 0.10% credit spread adjustment on certain SOFR loans is removed, and the leverage ratio test used for interest rate margins is increased.