Cal-Maine Foods Signs $250 Million Unsecured Revolving Credit Facility Maturing 2031
Cal-Maine Foods entered a Second Amended and Restated Credit Agreement dated August 31, 2026, with BMO Bank N.A. as administrative agent, providing a senior unsecured revolving credit facility of up to $250 million. As of September 1, 2026, nothing had been borrowed under the facility and $5.9 million in standby letters of credit had been issued, and the facility matures August 31, 2031. The filing does not describe a new borrowing, but it sets the terms under which the company can borrow, including covenants that limit dividends and share repurchases.
Key points
- Revolver of up to $250 million, with a $25 million sublimit for standby letters of credit and a $25 million sublimit for swingline loans
- No amounts borrowed as of September 1, 2026; $5.9 million in standby letters of credit issued
- Five-year term maturing August 31, 2031; amends and restates the credit agreement dated November 15, 2021
- Covenants include a maximum Total Funded Debt to Capitalization Ratio of 50% tested quarterly and a minimum Tangible Net Worth of $1.5 billion plus 50% of consolidated net income (if positive) less permitted restricted payments
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits 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 September 02, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.