Perma-Pipe closes new $139 million global credit facility with J.P. Morgan
Perma-Pipe International Holdings entered into a new secured credit agreement with J.P. Morgan on August 25, 2026, replacing its existing credit agreement, which was terminated and repaid in full. The facility includes a $75.0 million revolver and a $14.0 million term loan, with up to $50.0 million of additional capacity available on request, and matures August 25, 2031. The filing describes the change as consolidating multiple facilities into one global arrangement, and it adds covenants on leverage and fixed charge coverage.
Key points
- Facility: $75.0 million revolving credit line and $14.0 million term loan, maturing August 25, 2031
- At closing, the company borrowed $14.0 million under the term loan and had $23.0 million outstanding under the revolver
- Replaced the existing credit agreement, with proceeds and other cash used to repay its borrowings in full
- Requires a leverage ratio of no more than 3.00 to 1.00 and a fixed charge coverage ratio of at least 1.25 to 1.00
The filing
Written by AI on Nov 9, 2026, 8:28 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 August 27, 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.