[8-K] COLUMBUS MCKINNON CORP Reports Material Event
Columbus McKinnon Corporation entered into a Fifth Amendment to its Amended and Restated Credit Agreement that changes the company’s revolving credit terms and covenant calculations. The amendment extends the maturity of the Revolving Credit Facility from May 14, 2026 to February 13, 2028. It revises the Total Leverage Ratio calculation by increasing the allowable Approved Restructuring Charges from $10.0 million in any single fiscal year to $30.0 million during any twelve-month period and by raising the cap on charges for Material Acquisitions from 15% to 20% of Consolidated EBITDA. The amendment also changes the covenant trigger: compliance with the Leverage Covenant is now required only if revolving loans outstanding exceed 30.0% of the Revolving Commitments on the last day of a fiscal quarter. The amendment is filed as Exhibit 10.1 to the report.
Columbus McKinnon Corporation ha stipulato un quinto emendamento al proprio Amended and Restated Credit Agreement che modifica i termini del credito revolving e i calcoli delle covenant. L’emendamento estende la scadenza della Revolving Credit Facility dal 14 maggio 2026 al 13 febbraio 2028. Rivede il calcolo del Total Leverage Ratio aumentando le Approved Restructuring Charges ammissibili da 10,0 milioni di dollari in qualsiasi esercizio a 30,0 milioni durante qualsiasi periodo di dodici mesi e aumentando il tetto per le spese di Material Acquisitions dal 15% al 20% dell’EBITDA consolidato. L’emendamento modifica anche il trigger delle covenant: la conformità al Leverage Covenant è ora richiesta solo se i prestiti revolving in essere superano il 30,0% delle Revolving Commitments nell’ultimo giorno di un trimestre fiscale. L’emendamento è depositato come Exhibit 10.1 nel rapporto.
Columbus McKinnon Corporation ha suscrito una Quinta Enmienda a su Acuerdo de Crédito Enmendado y Reformulado que modifica los términos de la línea de crédito revolvente y los cálculos de los convenants. La enmienda extiende la madurez de la Revolving Credit Facility desde el 14 de mayo de 2026 hasta el 13 de febrero de 2028. Revisa el cálculo del Total Leverage Ratio aumentando los Approved Restructuring Charges permitidos desde 10,0 millones de dólares en cualquier año fiscal a 30,0 millones durante cualquier periodo de doce meses y elevando el límite de cargos por Material Acquisitions del 15% al 20% del Consolidated EBITDA. La enmienda también cambia el disparador de la covenant: el cumplimiento del Leverage Covenant ahora es obligatorio solo si los préstamos revolventes pendientes superan el 30,0% de los Revolving Commitments en el último día de un trimestre fiscal. La enmienda se presenta como Exhibit 10.1 en el informe.
Columbus McKinnon Corporation은 수정 및 재정비된 신용계약에 대한 다섯 번째 수정안을 체결했고, 이 수정안은 회사의 revolving 신용 조건과 covenant 계산을 변경합니다. 수정으로 Revolving Credit Facility의 만기일이 2026년 5월 14일에서 2028년 2월 13일로 연장됩니다. Total Leverage Ratio 산정은 Approved Restructuring Charges의 허용치를 연간 1,000만 달러에서 3,000만 달러로, Material Acquisitions 비용 한도는 15%에서 20%의 Consolidated EBITDA로 상향합니다. 또한 covenant 발동 조건도 변경되어, 레버리지 약정 준수는 순환 대출 잔액이 분기 말에 Revolving Commitments의 30.0%를 초과할 때에만 요구됩니다. 수정안은 보고서의 Exhibit 10.1로 제출되어 있습니다.
Columbus McKinnon Corporation a conclu une Cinquième Amendement à son Amended and Restated Credit Agreement qui modifie les conditions de la ligne de crédit revolvante et les calculs des convenants. L’amendement porte l’échéance de la Revolving Credit Facility du 14 mai 2026 au 13 février 2028. Il révise le calcul du Total Leverage Ratio en augmentant les Approved Restructuring Charges admissibles de 10,0 millions de dollars à 30,0 millions au cours de toute période de douze mois et en augmentant le plafond des charges pour les Material Acquisitions de 15% à 20% de l’EBITDA consolidé. L’amendement modifie aussi le déclencheur des covenant : la conformité au Leverage Covenant est désormais requise uniquement si les prêts revolving en cours dépassent 30,0% des Revolving Commitments à la fin d’un trimestre fiscal. L’amendement est déposé en tant qu’Exhibit 10.1 dans le rapport.
Columbus McKinnon Corporation hat eine Fünfte Änderung zu seinem Amended and Restated Credit Agreement abgeschlossen, die die revolving Kreditbedingungen und die Berechnung der Covenants ändert. Die Änderung verlängert die Laufzeit der Revolving Credit Facility von 14. Mai 2026 auf 13. Februar 2028. Sie überarbeitet die Berechnung des Total Leverage Ratio, indem zulässige Approved Restructuring Charges von 10,0 Millionen USD pro Geschäftsjahr auf 30,0 Millionen während eines zwölfmonatigen Zeitraums erhöht werden und indem das Limit für Aufwendungen für Material Acquisitions von 15% auf 20% des Consolidated EBITDA angehoben wird. Die Änderung ändert auch den Covenant-Trigger: Die Einhaltung des Leverage Covenant ist nun nur erforderlich, wenn revolvierende Darlehen, die ausstehen, 30,0% der Revolving Commitments am letzten Tag eines Geschäftquartals überschreiten. Die Änderung wird als Exhibit 10.1 im Bericht eingereicht.
شركة كولومبوس ماكبِّن أبرمت تعديلًا خامسًا على اتفاقية الائتمان المعدلة والمعاد صياغتها الذي يغيّر شروط ائتمان الدوران وحسابات العهود. يتم بموجب هذا التعديل تمديد استحقاق تسهيلات الائتمان الدوارة من 14 مايو 2026 إلى 13 فبراير 2028. كما يعيد صياغة حساب نسبة الرافعة الإجمالية من خلال زيادة allowable Approved Restructuring Charges من 10.0 ملايين دولار إلى 30.0 مليون دولار خلال أي فترة اثني عشر شهرًا ورفع الحد الأقصى للنفقات الخاصة بـ Material Acquisitions من 15% إلى 20% من EBITDA الموحد. كما يغيّر التعديل محرك العون: الامتثال لـ Leverage Covenant مطلوب فقط إذا تجاوزت القروض الدوارة القائمة 30.0% من Revolving Commitments في آخر يوم ربع مالي. يُقدَّم التعديل ك Exhibit 10.1 في التقرير.
Columbus McKinnon Corporation 已签署其经修订并重述的信贷协议的第五次修正案,修改了公司的循环信贷条款及 covenant 计算。该修正案将循环信贷设施的到期日从 2026年5月14日 延长至 2028年2月13日。它通过将 Approved Restructuring Charges 在任意一个财年内的允许金额从 1000万美元 提高到 3000万美元,以及将 Material Acquisitions 的费用上限从 15% 提升至 20%的合并 EBITDA,来修订 Total Leverage Ratio 的计算。修正案还改变了 covenant 触发条件:只有当未偿还的循环贷款在季度末超过 30.0% 的 Revolving Commitments 时,才需要遵守 Leverage Covenant。该修正案作为报告中的 Exhibit 10.1 提交。
- Revolver maturity extended from May 14, 2026 to February 13, 2028
- Higher Approved Restructuring Charges allowance increased from $10.0 million (single fiscal year) to $30.0 million (any 12-month period)
- Material Acquisition cap increased from 15% to 20% of Consolidated EBITDA for covenant calculations
- Leverage covenant applies less frequently — now triggered only if revolver borrowings exceed 30.0% of Revolving Commitments on quarter-end
- None.
Insights
TL;DR: The amendment extends maturity and materially relaxes leverage covenant mechanics, giving the company more near-term covenant flexibility.
The Fifth Amendment extends the revolver maturity to February 13, 2028, and adjusts key covenant inputs. Increasing the Approved Restructuring Charges allowance to $30.0 million over a twelve-month period and raising the Material Acquisition cap to 20% of Consolidated EBITDA effectively increases permitted one-time adjustments when calculating Total Leverage Ratio. Moving the covenant trigger to require compliance only when revolver usage exceeds 30.0% of commitments narrows the scenarios when the Leverage Covenant applies. These changes are explicit and materially alter covenant measurement and applicability; they reduce the frequency of covenant testing tied to minimal revolver usage and expand permitted adjustments.
TL;DR: Contractual amendments provide clearer, looser thresholds for covenant application and broaden permitted EBITDA adjustments.
The amendment’s concrete changes—maturity extension and specific numeric increases to restructuring and acquisition charge caps—are straightforward contractual modifications. By defining a 30.0% usage threshold for covenant applicability and specifying dollar and percentage limits, the amendment formalizes governance of financial covenant calculation. The document filed as Exhibit 10.1 should be reviewed for full legal language and any related representations or waivers, since the summary here is qualified by that exhibit.
Columbus McKinnon Corporation ha stipulato un quinto emendamento al proprio Amended and Restated Credit Agreement che modifica i termini del credito revolving e i calcoli delle covenant. L’emendamento estende la scadenza della Revolving Credit Facility dal 14 maggio 2026 al 13 febbraio 2028. Rivede il calcolo del Total Leverage Ratio aumentando le Approved Restructuring Charges ammissibili da 10,0 milioni di dollari in qualsiasi esercizio a 30,0 milioni durante qualsiasi periodo di dodici mesi e aumentando il tetto per le spese di Material Acquisitions dal 15% al 20% dell’EBITDA consolidato. L’emendamento modifica anche il trigger delle covenant: la conformità al Leverage Covenant è ora richiesta solo se i prestiti revolving in essere superano il 30,0% delle Revolving Commitments nell’ultimo giorno di un trimestre fiscale. L’emendamento è depositato come Exhibit 10.1 nel rapporto.
Columbus McKinnon Corporation ha suscrito una Quinta Enmienda a su Acuerdo de Crédito Enmendado y Reformulado que modifica los términos de la línea de crédito revolvente y los cálculos de los convenants. La enmienda extiende la madurez de la Revolving Credit Facility desde el 14 de mayo de 2026 hasta el 13 de febrero de 2028. Revisa el cálculo del Total Leverage Ratio aumentando los Approved Restructuring Charges permitidos desde 10,0 millones de dólares en cualquier año fiscal a 30,0 millones durante cualquier periodo de doce meses y elevando el límite de cargos por Material Acquisitions del 15% al 20% del Consolidated EBITDA. La enmienda también cambia el disparador de la covenant: el cumplimiento del Leverage Covenant ahora es obligatorio solo si los préstamos revolventes pendientes superan el 30,0% de los Revolving Commitments en el último día de un trimestre fiscal. La enmienda se presenta como Exhibit 10.1 en el informe.
Columbus McKinnon Corporation은 수정 및 재정비된 신용계약에 대한 다섯 번째 수정안을 체결했고, 이 수정안은 회사의 revolving 신용 조건과 covenant 계산을 변경합니다. 수정으로 Revolving Credit Facility의 만기일이 2026년 5월 14일에서 2028년 2월 13일로 연장됩니다. Total Leverage Ratio 산정은 Approved Restructuring Charges의 허용치를 연간 1,000만 달러에서 3,000만 달러로, Material Acquisitions 비용 한도는 15%에서 20%의 Consolidated EBITDA로 상향합니다. 또한 covenant 발동 조건도 변경되어, 레버리지 약정 준수는 순환 대출 잔액이 분기 말에 Revolving Commitments의 30.0%를 초과할 때에만 요구됩니다. 수정안은 보고서의 Exhibit 10.1로 제출되어 있습니다.
Columbus McKinnon Corporation a conclu une Cinquième Amendement à son Amended and Restated Credit Agreement qui modifie les conditions de la ligne de crédit revolvante et les calculs des convenants. L’amendement porte l’échéance de la Revolving Credit Facility du 14 mai 2026 au 13 février 2028. Il révise le calcul du Total Leverage Ratio en augmentant les Approved Restructuring Charges admissibles de 10,0 millions de dollars à 30,0 millions au cours de toute période de douze mois et en augmentant le plafond des charges pour les Material Acquisitions de 15% à 20% de l’EBITDA consolidé. L’amendement modifie aussi le déclencheur des covenant : la conformité au Leverage Covenant est désormais requise uniquement si les prêts revolving en cours dépassent 30,0% des Revolving Commitments à la fin d’un trimestre fiscal. L’amendement est déposé en tant qu’Exhibit 10.1 dans le rapport.
Columbus McKinnon Corporation hat eine Fünfte Änderung zu seinem Amended and Restated Credit Agreement abgeschlossen, die die revolving Kreditbedingungen und die Berechnung der Covenants ändert. Die Änderung verlängert die Laufzeit der Revolving Credit Facility von 14. Mai 2026 auf 13. Februar 2028. Sie überarbeitet die Berechnung des Total Leverage Ratio, indem zulässige Approved Restructuring Charges von 10,0 Millionen USD pro Geschäftsjahr auf 30,0 Millionen während eines zwölfmonatigen Zeitraums erhöht werden und indem das Limit für Aufwendungen für Material Acquisitions von 15% auf 20% des Consolidated EBITDA angehoben wird. Die Änderung ändert auch den Covenant-Trigger: Die Einhaltung des Leverage Covenant ist nun nur erforderlich, wenn revolvierende Darlehen, die ausstehen, 30,0% der Revolving Commitments am letzten Tag eines Geschäftquartals überschreiten. Die Änderung wird als Exhibit 10.1 im Bericht eingereicht.