Oil-Dri expands BMO credit line to $100 million and extends it to October 2031
Oil-Dri Corporation of America amended its BMO credit agreement on October 7, 2026, raising its revolving line of credit from $75 million to $100 million and extending the termination date to October 7, 2031. The company also amended its Prudential note purchase agreement, raising the shelf note capacity from $75 million to $150 million, and both amendments add restrictions on dividends, distributions and share repurchases, which matter to shareholders.
Key points
- BMO revolving line of credit increased from up to $75 million to up to $100 million, with the termination date extended to October 7, 2031.
- Accordion provision allows an additional increase of up to the greater of $125 million or 100% of Consolidated EBITDA, subject to conditions.
- Prudential shelf note capacity increased from $75 million to $150 million, with the issuance period extended to October 7, 2029.
- New restricted payments covenant limits dividends, distributions and share repurchases unless the company is not in default and other specified conditions are met.
The filing
Written by AI on Nov 9, 2026, 8:51 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 October 07, 2026.
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.