Leggett & Platt amends credit facility, cuts revolver to $1.0 billion, extends maturity to 2030
Leggett & Platt entered into an amended credit agreement on July 24, 2025, reducing its senior unsecured revolving facility from $1.2 billion to $1.0 billion and extending the maturity date from September 30, 2026 to July 24, 2030. The company also cut its commercial paper program capacity from $1.2 billion to $1.0 billion, and reported $313 million of commercial paper outstanding as of July 24, 2025.
Key points
- Revolving commitments reduced from $1.2 billion to $1.0 billion; accordion feature reduced from $600 million to $500 million
- Maturity extended from September 30, 2026 to July 24, 2030
- Leverage ratio covenant set at 3.50 to 1.00, with a temporary increase to 4.00 to 1.00 after a Material Acquisition
- Mexican peso borrowing suspended pending agreement on a benchmark replacement
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 July 25, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.