Fastenal renews $835 million revolving credit facility, extends maturity to June 2031
Fastenal entered into a Second Amended and Restated Credit Agreement with Wells Fargo as administrative agent on June 18, 2026, renewing its unsecured revolving credit commitment at $835 million and extending maturity to June 18, 2031. The company also amended its Master Note Agreement, reducing the maximum notes outstanding from $900 million to $600 million. Both deals replace the consolidated EBITDA covenant with interest coverage and leverage ratio covenants, which matters to shareholders because it changes the terms under which the company can borrow.
Key points
- Revolving credit commitment renewed at $835 million; accordion option increased from $365 million to up to $500 million, for a possible total of $1.335 billion
- Revolving credit maturity extended to June 18, 2031, with two one-year extension options
- Master Note Agreement maximum reduced from $900 million to $600 million; issuance period extended to June 18, 2031
- New covenants require minimum interest coverage of 3.00 to 1.00 and maximum total leverage of 3.00 to 1.00, stepping up to 3.50 to 1.00 after qualified acquisitions of at least $750 million
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:42 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 June 23, 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.