Financing ·
Enerpac Tool Group amends credit agreement to $550M revolver and $300M term loan due 2031
EPACEnerpac Tool Group Corp
Enerpac Tool Group entered into an Amended and Restated Credit Agreement that replaces its prior facility. The new structure provides a $550 million revolving credit facility, including a $200 million foreign currency sublimit, and a $300 million term loan. Borrowings mature on October 16, 2031. Initial proceeds were used to repay the existing $825 million debt and cover transaction expenses. The agreement includes financial covenants limiting the net leverage ratio to 3.75x (with a step-up to 4.25x for acquisitions) and requiring an interest coverage ratio of at least 3.00x. Enerpac Tool Group manufactures hydraulic, pneumatic, and electric tools and equipment.