Key Highlights

  • A new delayed draw term loan facility of $175.0 million was introduced with quarterly amortization at 1.875% then 2.5%.
  • Leverage requirements were set at 4.00-to-1.00 through mid‑2027 and tighten to 3.50-to-1.00 thereafter.

Suncrete, Inc. (NASDAQ: RMIX) disclosed a fifth amendment to its credit agreement on June 30 2026. The changes increase borrowing capacity, add a delayed draw loan, and adjust covenant metrics to support upcoming acquisitions.

Credit Amendment Overview

The amendment, signed with Bank of America and participating lenders, modifies the existing senior secured loan structure. It keeps the original $205.0 million term loan intact while reshaping the revolving and delayed draw components.

Expanded Revolving Credit Facility

The revolving facility, originally set at $25.0 million, was doubled to $50.0 million. After a recent draw of $7.0 million, the outstanding balance sits at roughly $22.0 million, providing additional liquidity for working capital needs. Quarterly repayments start on the fiscal quarter ending December 31 2026, calculated at 1.875% of the remaining principal through September 30 2027 and then rising to 2.5% thereafter.

Adjusted Leverage Covenants

The amendment replaces the prior senior leverage ratio with a net leverage test. Borrowers must maintain a 4.00-to-1.00 ratio for quarters ending up to June 30 2027, tightening to 3.50-to-1.00 for later periods, subject to specified adjustments.

Acquisition Flexibility

The company may now draw up to $400.0 million in equity cash proceeds for permitted acquisitions, including earnout payments.

Current Loan Balances

Post‑amendment, the term loan balance stands at about $189.2 million, reflecting the reallocation of proceeds. The revolving line’s remaining $22.0 million balance continues to be secured by a first‑priority lien on Suncrete’s assets.

Secured Position

All obligations under the revised agreement remain secured by a first‑priority claim on substantially all of Suncrete’s personal property. The amendment text is publicly.

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.