Sterling Expands Credit Facility to $1.5 Billion and Extends Maturity to July 2031
Sterling Infrastructure entered into an amended credit agreement on July 2, 2026, raising its revolving borrowing capacity to $1.5 billion, an increase of $1.05 billion, and extending maturity to July 2031. As of July 2, 2026, the company had $90 million outstanding under the revolving loans, and the filing describes looser covenants and pricing changes that give the company more financial flexibility.
Key points
- Revolving capacity rises to $1.5 billion, an increase of $1.05 billion, with a $600 million letter of credit sublimit
- Maturity extended to July 2, 2031; BMO Bank N.A. is administrative agent
- Incremental facility base amount increased from $400 million to $500 million; SOFR 10 basis point adjustment eliminated
- Financial covenants include Total Net Leverage Ratio of no more than 3.50 to 1.00 and Interest Coverage Ratio of at least 3.00 to 1.00
The filing
Written by AI on Nov 8, 2026, 12:57 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 08, 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.