Tennant Co signs $650 million revolving credit facility maturing August 7, 2029
Tennant Company entered a Second Amended and Restated Credit Agreement with JPMorgan Chase Bank as administrative agent, providing a senior secured revolving facility of up to $650 million through August 7, 2029. The facility can be expanded by up to $325 million and is secured by substantially all of the company's personal property and pledged subsidiary stock, which adds lender-related obligations and covenants that shareholders should note.
Key points
- Revolving facility up to $650 million, maturing August 7, 2029, with an option to expand by up to $325 million
- Borrowings in U.S. dollars priced off prime rate, NYFRB Rate or Adjusted Term SOFR, with spreads depending on leverage ratio
- Covenants include a maximum indebtedness to EBITDA ratio of 3.75 to 1.00 and a minimum EBITDA to interest expense ratio of 3.00 to 1
- Dividends and stock repurchases are limited when leverage exceeds 2.50 to 1, capped at the greater of 10% of consolidated total assets and $100 million per fiscal year
The filing
Written by AI on Nov 8, 2026, 6:59 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 07, 2024.
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.