Columbus McKinnon reprices $1.45B debt, expects $7.3M savings
CMCO repriced its $1.45 billion Term Loan B and $500 million revolver, cutting margins by 50 basis points and expecting at least $7.3 million in annual interest savings.
Rhea-AI Filing Summary
Columbus McKinnon Corporation (CMCO) amended its senior credit agreement to reprice its debt, including a $1,453 million Term Loan B due February 3, 2033 and a $500 million revolving credit facility. The amendment reduced the applicable interest rate margins on both facilities by 50 basis points per annum.
Following the amendment, the Term Loan B bears interest at SOFR plus 3.00% per annum, and loans under the revolving facility bear SOFR-based margins ranging from 1.75% to 2.75% depending on the company’s Consolidated Total Leverage Ratio. The company stated that this repricing is expected to reduce annual cash interest expense by at least $7.3 million, supporting its priority of paying down debt, while all other material credit agreement terms, including maturities, remain unchanged.
Positive
- Interest margin reduced by 50 bps on both the $1,453 million Term Loan B and $500 million revolver, lowering CMCO’s borrowing costs.
- Repricing is expected to cut annual cash interest expense by at least $7.3 million, improving cash flow available for debt repayment.
Negative
- None.
Filing Explained
The completed refinancing lowers debt pricing while preserving the disclosed principal amount, maturity dates, and other material credit terms.
Columbus McKinnon reports that its September 21 amendment was completed, refinancing
The refinancing allowed existing term lenders either to convert their loans without receiving cash or to be prepaid from replacement-loan proceeds funded by new and existing lenders. This changes the lender and pricing mechanics, not the disclosed principal amount or scheduled maturity of the term facility.
The filing also adds J.P. Morgan SE as administrative agent for the German borrower and other EEA-agented borrowers.
8-K Event Classification
Key Figures
Key Terms
Term Loan B Facility financial
Revolving Facility financial
Senior Credit Facilities financial
SOFR financial
Consolidated Total Leverage Ratio financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What debt facilities did CMCO (CMCO) reprice in this 8-K?
How much did CMCO reduce interest margins on its Term Loan B and revolver?
What is CMCO’s new interest rate on the Term Loan B after repricing?
How much interest expense does CMCO expect to save annually from this repricing?
Did CMCO change the maturity date of its Term Loan B in this amendment?
What determines CMCO’s SOFR margin on the revolving credit facility?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d)
of The Securities Exchange Act of 1934
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If an Emerging Growth Company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 1.01 | Entry into a Material Definitive Agreement. |
On September 21, 2026, Columbus McKinnon Corporation (the “Company”), Columbus McKinnon EMEA GmbH (the “German Borrower”) and certain subsidiary guarantors of the Company entered into that certain First Amendment (the “First Amendment”) to its Credit Agreement, dated as of February 3, 2026 (the “Existing Credit Agreement” and the credit facilities thereunder, the “Senior Credit Facilities”), by and among the Company, the German Borrower, certain subsidiary guarantors of the Company, the lenders from time to time thereto, and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.
Pursuant to the First Amendment, (a) the initial term loans outstanding under the Existing Credit Agreement (the “Term Loan B Facility”) as of the First Amendment Effective Date (as defined in the First Amendment) were refinanced with Tranche B Term Loans (as defined in the First Amendment) in an aggregate principal amount of $1,452.9 million at an applicable interest rate margin that was reduced by 0.50% per annum and (b) the applicable interest rate margin on the existing revolving credit facility under the Existing Credit Agreement (the “Revolving Facility”) was also similarly reduced by 0.50% per annum. The existing term lenders under the Term Loan B Facility were offered the option to participate in the refinancing either through a cashless conversion of their existing term loans into a like principal amount of Tranche B Term Loans or, alternatively, to have their existing term loans prepaid from the proceeds of the Tranche B Term Loans funded by new and existing term lenders under the Term Loan B Facility. Following the effectiveness of the First Amendment, the Senior Credit Facilities bear interest at rates determined on the basis of either a term SOFR or a base rate plus an applicable margin. In the case of term SOFR loans under the Term Loan B Facility, such margin is 3.00%, and in the case of dollar denominated term SOFR loans under the Revolving Facility, such margin ranges from 1.75% to 2.75% based upon the Company’s Consolidated Total Leverage Ratio (as defined in the Existing Credit Agreement). The First Amendment also added J.P. Morgan SE as administrative agent with respect to the German Borrower and any other EEA Agented Borrower (as defined in the First Amendment).
No other material changes were made to the terms of the Term Loan B Facility, the Revolving Facility or the Existing Credit Agreement.
The foregoing description of the First Amendment does not purport to be complete and is qualified in its entirety by the First Amendment, a copy of which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
| Item 7.01 | Regulation FD Disclosure. |
On September 22, 2026, the Company issued a press release announcing closing of the Term Loan B Facility and the Revolving Facility repricing transaction described above, a copy of which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 7.01 and the exhibit attached to this Current Report on Form 8-K as Exhibit 99.1 are being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section nor shall they be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| EXHIBIT NUMBER |
DESCRIPTION | |||
| 10.1 | First Amendment, dated as of September 21, 2026, by and among Columbus McKinnon Corporation, Columbus McKinnon EMEA GmbH, the guarantors party thereto, the banks and financial institutions party thereto, JPMorgan Chase Bank, N.A., as the Administrative Agent with respect to the Non-EEA Agented Borrower(s) and collateral agent and J.P. Morgan SE, as the Administrative Agent with respect to the EEA Agented Borrower(s). | |||
| 99.1 | Press release, dated September 22, 2026. | |||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document). | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COLUMBUS McKINNON CORPORATION | ||
| By: | /s/ John R. Linker | |
| Name: | John R. Linker | |
| Title: | Executive Vice President and Chief Financial Officer | |
Dated: September 22, 2026
Exhibit 99.1
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|
News Release |
Immediate Release
Columbus McKinnon Announces Repricing of $1,453 million Term Loan B and $500 million Revolving Credit Facility
CHARLOTTE, NC, September 22, 2026 - Columbus McKinnon Corporation (Nasdaq: CMCO) (“CMCO” or the “Company”), a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, today announced that on September 21, 2026 it completed an opportunistic repricing of its existing $1,453 million Term Loan B due February 3, 2033 (the “Term Loan B”) and $500 million Revolving Credit Facility (the “Revolver”) through an amendment (the “Amendment”) to its existing credit agreement dated as of February 3, 2026 (as amended, the “Amended Credit Agreement”).
The Amendment reduced the applicable interest rate margin on both the Revolver and the Term Loan B by 50 basis points, resulting in an interest rate for the Term Loan B of SOFR plus 3.00% per annum. All other material provisions under the Amended Credit Agreement, including the maturity dates, remain unchanged.
“I am very pleased with the successful debt repricing transaction, which is expected to reduce annual cash interest expense by at least $7.3 million,” said John Linker, Executive Vice President and Chief Financial Officer. “Enabled by our integration progress and strong financial performance in early fiscal 2027, this repricing accelerates CMCO’s value creation strategy by improving our ability to pay down debt, which continues to be our priority for capital allocation, and reflects increased confidence in cost synergy realization.”
About Columbus McKinnon Corporation
CMCO is a global leader in intelligent motion solutions designed to advance performance and productivity, helping customers move the world forward with confidence. Guided by its mission to deliver innovative solutions with unmatched safety, quality and reliability, CMCO enables efficient lifting, positioning, securing and movement of materials across a wide range of end markets. Its portfolio spans five key platforms: lifting hardware consumables, hoists and cranes, precision conveyance, automation and linear motion. Driven by a vision for a safer, more productive tomorrow, CMCO partners with customers to solve some of their most complex intralogistics challenges and keep industry in motion. Comprehensive information is available at www.cmco.com.
Safe Harbor Statement
This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are generally identified by the use of forward-looking terminology, including the terms “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “illustrative,” “intend,” “likely,” “may,” “opportunity,” “plan,” “possible,” “potential,” “predict,” “project,” “shall,” “should,” “target,” “will,” “would” and, in each case, their negative or other various or comparable terminology. Forward-looking statements are not based on historical facts, but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions, and involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended March 31, 2026 as well as in our other filings with the Securities and Exchange Commission, which are available on its website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date they are made. CMCO undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
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Contacts:
Alexandre Eldredge
Investor.Relations@cmco.com