The Aaon Group Announces Expansion of Credit Facility to Support Continued Growth

Committed borrowing capacity is $850 million; reaching the full $1.2 billion requires additional lender commitments.

Rhea-AI Summary

The Aaon Group (AAON) refinanced and expanded its senior credit facility, increasing potential total borrowing capacity to as much as $1.2 billion.

The facility provides $850 million in committed capacity, comprising a $600 million revolving credit facility and a $250 million term loan facility. An uncommitted expansion option could add up to $350 million, subject to customary conditions and additional lender commitments. Previous total borrowing capacity was $600 million.

The refinancing extends the debt maturity profile to 2031. It includes a $100 million supply chain financing program, which the company says is designed to improve working capital and cash flow management.

3 points · 0 major

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0 major · 1 point

How the balance works

Positive

• Moderate point$850 million in committed borrowing capacity comprises a $600 million revolver and $250 million term loan facility. 14% of market cap
• Minor pointDebt maturity profile extended to 2031 through the refinancing.
• Minor point$100 million supply chain financing program is designed to improve working capital and cash flow management.

Negative

• Minor pointUp to $350 million of additional capacity is uncommitted, subject to customary conditions and additional lender commitments.

Key Figures

Total borrowing capacity: Up to $1.2 billion from $600 million Committed borrowing capacity: $850 million Revolving credit facility: $600 million +4 more

Total borrowing capacity

Up to $1.2 billion from $600 million

Expanded credit facility

Committed borrowing capacity

$850 million

Amended and restated credit facility

Revolving credit facility

$600 million

Component of committed borrowing capacity

Term loan facility

$250 million

Component of committed borrowing capacity

Accordion feature

Up to $350 million

Uncommitted; subject to customary conditions and additional lender commitments

Debt maturity

2031

Extended debt maturity profile

Supply chain financing program

$100 million

Included in the new facility

Historical Context

1 past event · Latest: Nov 09

1 event

1. Nov 09

   Q3 earnings report

   24h Move

   +19.3%

   Prior 10-Q reported $212.6M available under a $600M revolver before this facility expansion.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

revolving credit facility, term loan facility, accordion feature, form 8-k

4 terms

revolving credit facility financial

"a $600 million revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

term loan facility financial

"a $250 million term loan facility"

A term loan facility is a type of loan provided by a lender that is repaid over a set period of time, usually with fixed payments. It functions like a large, upfront loan that a borrower agrees to pay back gradually, often used to fund major investments or projects. For investors, understanding a company's use of such loans helps assess its financial stability and risk level.

accordion feature financial

"an uncommitted accordion feature"

An accordion feature is a clause in a loan or financing agreement that allows a company to expand the size of a credit line or the amount of securities available under the same contract without drafting a completely new deal. Like a suitcase that can be extended to hold more items, it gives a company quick flexibility to raise extra money, which can help fund growth but may increase debt or dilute existing shareholders—so investors watch it for changes in risk and ownership.

form 8-k regulatory

"included in the Company's Current Report on Form 8-K"

A Form 8-K is a report that companies file with the government to share important news quickly, such as changes in leadership, major business deals, or financial updates. It matters because it helps investors stay informed about significant events that could affect the company's value or stock price.

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TULSA, Okla., Nov. 12, 2026 /PRNewswire/ -- The Aaon Group (NASDAQ: AAON) ("The Aaon Group" or the "Company"), a leader in high-performance HVAC and thermal management solutions, today announced the refinancing and expansion of its senior credit facility, increasing total borrowing capacity to as much as $1.2 billion from $600 million. The new credit facility extends the Company's debt maturity profile to 2031 and provides enhanced financial flexibility to support strategic growth initiatives, capital investments and supply chain financing.

"We are pleased to have secured improved financing terms while meaningfully increasing our available capital," said Andy Cheung, CFO and Treasurer. "The expanded facility provides additional liquidity and flexibility, and we believe our enhanced capital structure positions us to capitalize on sustainable growth opportunities while continuing to create value for our customers, employees, and shareholders."

The amended and restated credit facility provides $850 million of committed borrowing capacity, consisting of a $600 million revolving credit facility and a $250 million term loan facility, and includes an uncommitted accordion feature that could increase total capacity by up to $350 million, subject to customary conditions and additional lender commitments. Included in the new facility is a $100 million supply chain financing program designed to enhance the Company's working capital capabilities through improved cash flow management while reinforcing its commitment to maintaining strong relationships with suppliers and business partners.

Detailed information regarding the new credit facility is included in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission.

About The Aaon Group

The Aaon Group provides high-performance HVAC and thermal management solutions for commercial, industrial, and data center environments. Through two strong brands, AAON and BASX, the company designs and manufactures highly configurable and custom-engineered equipment focused on efficiency, performance, reliability, and long-term customer value. For more information, please visit theaaongroup.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", "should", "will", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligations to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Important factors that could cause results to differ materially from those in the forward-looking statements include (1) the timing and extent of changes in raw material and component prices, (2) the effects of fluctuations in the commercial/industrial new construction market, (3) the material weakness in the effectiveness of our internal controls over financial reporting, and the impact of our ability to adequately remediate the material weakness in a timely manner, (4) the timing and extent of changes in interest rates, as well as other competitive factors during the year, and (5) general economic, market or business conditions.

Contact Information
Joseph Mondillo
Director of Investor Relations & Corporate Strategy
Email: investorrelations@theaaongroup.com

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SOURCE AAON

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much borrowing capacity does Aaon Group's expanded credit facility provide?

The facility provides $850 million of committed borrowing capacity, with an uncommitted expansion option that could increase total capacity to as much as $1.2 billion. The committed portion consists of a $600 million revolving credit facility and a $250 million term loan facility.

When does Aaon Group's refinanced credit facility mature?

The refinancing extends Aaon Group's debt maturity profile to 2031.