Arcosa amends credit agreement to fund $1.2 billion Stavola construction materials deal
Arcosa signed Amendment No. 1 to its credit agreement on August 15, 2024, to permit and help finance its $1.2 billion cash acquisition of Stavola's construction materials business. The amendment adds a $700.0 million Term Loan B, increases the revolving credit facility from $600.0 million to $700.0 million, and adds substantially all of the company's personal property as collateral; the Term Loan and collateral terms take effect only when conditions, including the closing of the acquisition, are met.
Key points
- Credit agreement amendment dated August 15, 2024, with JPMorgan Chase Bank, N.A. as administrative agent
- Term Loan of up to $700.0 million at SOFR plus 2.25%, due on the seventh anniversary of initial funding
- Revolving credit facility increased from $600.0 million to $700.0 million; maximum leverage ratio set at 5.00 to 1.00 in the quarter the transaction closes
- Acquisition is financed with the Term Loan plus $600.0 million of 6.875% senior unsecured notes due 2032
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 19, 2024.
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