Knife River amends credit agreement, adds $400 million to term B loans at lower rate
Knife River Corporation entered into a Second Amendment to its Credit Agreement on May 15, 2026, increasing its existing term B loans by $400 million and cutting the interest rate margin by 0.25%. After the change, term B loans outstanding total $895 million, and the company plans to use the proceeds to refinance existing term B loans, repay revolver borrowings and fund working capital and general corporate purposes.
Key points
- Term B loans increased by $400 million; total outstanding is $895 million after the amendment
- Interest rate margin reduced by 0.25%; SOFR loans bear 1.75% per annum and alternate base rate loans bear 0.75% per annum
- Proceeds to refinance existing term B loans, repay Revolving Credit Facility borrowings and fund working capital and general corporate purposes
- Amendment signed May 15, 2026 with JPMorgan Chase Bank, N.A. as administrative agent; filed as Exhibit 10.1
The filing
Written by AI on Nov 8, 2026, 1:39 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 May 18, 2026.
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