Financing ·
Oil-Dri expands revolving credit line to $100M and increases shelf note capacity to $150M
ODCOil-Dri Corp of America
On October 7, 2026, Oil-Dri Corporation of America entered into the Ninth Amendment to its Credit Agreement with BMO Bank N.A., increasing its revolving line of credit from $75 million to $100 million. The amendment also extends the termination date to October 7, 2031, reduces pricing by expanding the debt-to-earnings ratio, and removes the $100 million cumulative permitted acquisitions threshold while adding a restricted payments covenant. Additionally, the company executed Amendment No. 5 to its Note Purchase Agreement with PGIM, Inc., extending the shelf note issuance period to October 7, 2029, and increasing the aggregate principal amount of Shelf Notes that may be purchased from $75 million to $150 million. Oil-Dri Corporation of America manufactures specialty carbon black and adsorbents for industrial applications.