Financing ·
Universal Corp amends credit agreement to raise leverage covenant limits through June 2027
UVVUniversal Corp
Universal Corporation entered into Amendment No. 1 to its existing Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent. The amendment modifies the Total Net Leverage Ratio covenant, increasing the maximum allowed ratio from 3.00 to 1.00 for specific periods: 3.75 to 1.00 for fiscal quarters ending September and December 2026; 3.25 to 1.00 for the quarter ending March 2027; and reverting to 3.00 to 1.00 for June 2027 and thereafter. The company operates in the tobacco leaf processing industry.