MasterBrand amends credit agreement with JPMorgan Chase Bank; covenant thresholds narrow until Jan. 1, 2027

Reuters
Mar 27
MasterBrand amends credit agreement with JPMorgan Chase Bank; covenant thresholds narrow until Jan. 1, 2027
  • MasterBrand and certain subsidiaries entered into a second amendment to an amended and restated credit agreement with JPMorgan Chase Bank as administrative agent and the lenders party to it.
  • The amendment adds a new pricing category for the margin over the base reference rate on loans under the credit agreement.
  • It also changes the thresholds for the net leverage ratio covenant and the minimum interest coverage ratio covenant until, but excluding, the earlier of Jan. 1, 2027 or the effective date of MasterBrand’s merger with American Woodmark.
  • The amendment did not materially change the existing representations and warranties, or the affirmative and restrictive covenants in the credit agreement.


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