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[8-K] Williams Companies Inc. Reports Material Event

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(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

L.B. Foster Company (NASDAQ: FSTR) executed a Fifth Amended & Restated Credit Agreement on 27-Jun-2025 that

  • increases the revolving credit facility by 15% to $150 million (from $130 million) and introduces an incremental accordion of up to $60 million.
  • extends maturity by almost four years—from 13-Aug-2026 to 27-Jun-2030.
  • provides sub-limits of $30 million for letters of credit and $20 million for swing loans.
  • sets variable pricing at Base +0.25–1.50% or Term SOFR +1.25–2.50%, tiered to the company’s net debt/EBITDA.
  • is secured by substantially all domestic, Canadian and U.K. assets; equity of subsidiaries is pledged.

Key financial covenants require (1) a maximum gross leverage ratio ≤3.5× (≤4.0× during acquisition periods) and (2) a minimum fixed-charge coverage ≥1.10×. The facility allows dividends, buybacks and acquisitions—up to $75 million per deal—provided no default exists and liquidity remains ≥$15 million.

The agreement, syndicated by PNC, Bank of America, Citizens, Wells Fargo and Dollar Bank, enhances liquidity, lengthens the debt runway and affords strategic flexibility, albeit with strengthened collateral requirements.

L.B. Foster Company (NASDAQ: FSTR) ha stipulato un Quinto Accordo di Credito Modificato e Riformulato il 27 giugno 2025 che

  • aumenta la linea di credito revolving del 15% portandola a 150 milioni di dollari (da 130 milioni) e introduce un accordion incrementale fino a 60 milioni di dollari.
  • proroga la scadenza di quasi quattro anni, dal 13 agosto 2026 al 27 giugno 2030.
  • prevede sub-limiti di 30 milioni di dollari per lettere di credito e 20 milioni di dollari per prestiti swing.
  • fissa un prezzo variabile basato su Base +0,25–1,50% o Term SOFR +1,25–2,50%, in base al rapporto net debt/EBITDA dell’azienda.
  • è garantito da quasi tutti i beni domestici, canadesi e del Regno Unito; le partecipazioni nelle controllate sono vincolate.

I principali covenant finanziari richiedono (1) un rapporto massimo di leva finanziaria lorda ≤3,5× (≤4,0× durante i periodi di acquisizione) e (2) una copertura dei costi fissi minima ≥1,10×. La linea di credito consente dividendi, riacquisti e acquisizioni—fino a 75 milioni di dollari per singola operazione—a condizione che non vi siano inadempienze e che la liquidità rimanga ≥15 milioni di dollari.

L’accordo, sindacato da PNC, Bank of America, Citizens, Wells Fargo e Dollar Bank, migliora la liquidità, allunga la durata del debito e offre flessibilità strategica, sebbene con requisiti di garanzia più stringenti.

L.B. Foster Company (NASDAQ: FSTR) firmó un Quinto Acuerdo de Crédito Modificado y Reformulado el 27 de junio de 2025 que

  • incrementa la línea de crédito revolvente en un 15% hasta 150 millones de dólares (desde 130 millones) e introduce un acordeón incremental de hasta 60 millones de dólares.
  • extiende el vencimiento casi cuatro años, del 13 de agosto de 2026 al 27 de junio de 2030.
  • establece sublímites de 30 millones de dólares para cartas de crédito y 20 millones de dólares para préstamos swing.
  • fija un precio variable basado en Base +0,25–1,50% o Term SOFR +1,25–2,50%, escalonado según el net debt/EBITDA de la compañía.
  • está asegurado por prácticamente todos los activos nacionales, canadienses y del Reino Unido; se pignoran las acciones de las subsidiarias.

Los principales convenios financieros requieren (1) una relación máxima de apalancamiento bruto ≤3,5× (≤4,0× durante periodos de adquisiciones) y (2) una cobertura mínima de gastos fijos ≥1,10×. La línea permite dividendos, recompras y adquisiciones—hasta 75 millones de dólares por operación—siempre que no haya incumplimientos y la liquidez se mantenga ≥15 millones de dólares.

El acuerdo, sindicado por PNC, Bank of America, Citizens, Wells Fargo y Dollar Bank, mejora la liquidez, extiende el plazo de la deuda y ofrece flexibilidad estratégica, aunque con requisitos de garantía más estrictos.

L.B. Foster Company (NASDAQ: FSTR)는 2025년 6월 27일에 다섯 번째 수정 및 재작성된 신용 계약을 체결했으며, 이 계약은

  • 회전 신용 한도를 15% 증가시켜 1억 5천만 달러로 확장(기존 1억 3천만 달러)하고 최대 6천만 달러의 추가 확장 옵션(accordion)을 도입했습니다.
  • 만기일을 거의 4년 연장하여 2026년 8월 13일에서 2030년 6월 27일로 변경했습니다.
  • 신용장에 대해 3천만 달러, 스윙 대출에 대해 2천만 달러의 하위 한도를 제공합니다.
  • 회사의 순부채/EBITDA에 따라 기본금리(Base) +0.25–1.50% 또는 Term SOFR +1.25–2.50%의 변동 금리를 설정했습니다.
  • 국내, 캐나다 및 영국 내 거의 모든 자산을 담보로 하며, 자회사의 지분도 담보로 설정됩니다.

주요 재무 약정에는 (1) 최대 총 레버리지 비율 ≤3.5배 (인수 기간 동안 ≤4.0배)와 (2) 최소 고정비 부담 커버리지 비율 ≥1.10배가 요구됩니다. 이 신용 시설은 부채 불이행이 없고 유동성이 최소 1,500만 달러 이상인 경우, 배당금, 자사주 매입 및 건당 최대 7,500만 달러까지의 인수를 허용합니다.

PNC, Bank of America, Citizens, Wells Fargo 및 Dollar Bank가 공동 주관한 이 계약은 유동성을 강화하고 부채 만기를 연장하며 전략적 유연성을 제공하지만, 담보 요구 조건은 강화되었습니다.

L.B. Foster Company (NASDAQ: FSTR) a conclu un cinquième accord de crédit modifié et reformulé le 27 juin 2025 qui

  • augmente la facilité de crédit renouvelable de 15 % à 150 millions de dollars (contre 130 millions) et introduit un accordéon incrémental allant jusqu'à 60 millions de dollars.
  • prolonge l’échéance de près de quatre ans, du 13 août 2026 au 27 juin 2030.
  • prévoit des sous-limites de 30 millions de dollars pour les lettres de crédit et de 20 millions de dollars pour les prêts swing.
  • fixe un tarif variable à Base +0,25–1,50 % ou Term SOFR +1,25–2,50 %, modulé en fonction du ratio dette nette/EBITDA de la société.
  • est garanti par pratiquement tous les actifs domestiques, canadiens et britanniques ; les actions des filiales sont nanties.

Les principaux engagements financiers exigent (1) un ratio d’endettement brut maximal ≤3,5× (≤4,0× pendant les périodes d’acquisition) et (2) une couverture minimale des charges fixes ≥1,10×. La facilité autorise les dividendes, rachats et acquisitions — jusqu’à 75 millions de dollars par opération — à condition qu’aucun défaut n’existe et que la liquidité reste ≥15 millions de dollars.

L’accord, syndiqué par PNC, Bank of America, Citizens, Wells Fargo et Dollar Bank, améliore la liquidité, prolonge la durée de la dette et offre une flexibilité stratégique, bien que les exigences en matière de garanties soient renforcées.

L.B. Foster Company (NASDAQ: FSTR) hat am 27. Juni 2025 eine fünfte geänderte und neu gefasste Kreditvereinbarung abgeschlossen, die

  • die revolvierende Kreditfazilität um 15 % auf 150 Millionen US-Dollar (von 130 Millionen) erhöht und eine zusätzliche Akkordeonoption von bis zu 60 Millionen US-Dollar einführt.
  • die Laufzeit um fast vier Jahre verlängert – vom 13. August 2026 bis zum 27. Juni 2030.
  • Untergrenzen von 30 Millionen US-Dollar für Akkreditiv und 20 Millionen US-Dollar für Swing-Darlehen vorsieht.
  • eine variable Verzinsung festlegt, die sich an Base +0,25–1,50 % oder Term SOFR +1,25–2,50 % orientiert und nach dem Netto-Schulden/EBITDA des Unternehmens gestaffelt ist.
  • durch nahezu alle inländischen, kanadischen und britischen Vermögenswerte besichert ist; die Beteiligungen der Tochtergesellschaften sind verpfändet.

Wichtige finanzielle Auflagen verlangen (1) eine maximale Brutto-Verschuldungsquote ≤3,5× (≤4,0× während Akquisitionsperioden) und (2) eine minimale Deckung der Fixkosten ≥1,10×. Die Fazilität erlaubt Dividenden, Rückkäufe und Akquisitionen – bis zu 75 Millionen US-Dollar pro Transaktion – vorausgesetzt, es liegen keine Zahlungsausfälle vor und die Liquidität bleibt ≥15 Millionen US-Dollar.

Das von PNC, Bank of America, Citizens, Wells Fargo und Dollar Bank syndizierte Abkommen verbessert die Liquidität, verlängert die Laufzeit der Schulden und bietet strategische Flexibilität, allerdings mit strengeren Sicherheitenanforderungen.

Positive
  • Liquidity extended and expanded: maturity pushed to 2030 and revolver increased to $150 million, reducing short-term refinancing risk.
  • Flexible growth capital: $60 million accordion and $75 million per-deal M&A basket support strategic acquisitions without equity dilution.
  • Tiered pricing incentives: lower spreads available as leverage declines, encouraging disciplined balance-sheet management.
Negative
  • Comprehensive collateral pledge heightens secured leverage, potentially limiting future unsecured borrowing capacity.
  • Variable rate exposure (SOFR-based) introduces interest-expense volatility amid uncertain rate environment.

Insights

TL;DR: Upsized, longer-dated secured revolver lowers near-term refinancing risk; covenant headroom tight but manageable.

The 5-year, $150 million revolver replaces a $130 million line that expired in 2026, pushing amortisation risk to 2030. The 20% accordion and permissive M&A basket signal lenders’ confidence in FSTR’s cash-flow profile. Pricing is standard for an industrial borrower of this size; spreads compress if leverage stays below 2.5×, incentivising deleveraging. Collateralisation of ‘substantially all assets’ elevates secured leverage but protects lenders and keeps pricing moderate. Covenant levels (3.5×/4.0× leverage, 1.10× FCCR) give modest cushion versus the company’s recent sub-3× leverage and ~2× coverage. Overall credit quality is stable to improving, provided EBITDA holds.

TL;DR: Facility upsizing and 2030 maturity bolster growth optionality while limiting dilution risk.

Investors gain comfort from an extended liquidity horizon, particularly as FSTR continues portfolio reshaping. The revolver supports up to $75 million per acquisition and permits buybacks/dividends, enabling balanced capital allocation without tapping equity markets. Incremental borrowing capacity (+$20 million up-front, +$60 million accordion) could fund bolt-on deals in rail technologies—management’s stated priority. The secured nature of the debt may cap further leverage, but covenant thresholds are aligned with the firm’s deleveraging trajectory post-asset sales. Net impact is incrementally positive for the equity story.

L.B. Foster Company (NASDAQ: FSTR) ha stipulato un Quinto Accordo di Credito Modificato e Riformulato il 27 giugno 2025 che

  • aumenta la linea di credito revolving del 15% portandola a 150 milioni di dollari (da 130 milioni) e introduce un accordion incrementale fino a 60 milioni di dollari.
  • proroga la scadenza di quasi quattro anni, dal 13 agosto 2026 al 27 giugno 2030.
  • prevede sub-limiti di 30 milioni di dollari per lettere di credito e 20 milioni di dollari per prestiti swing.
  • fissa un prezzo variabile basato su Base +0,25–1,50% o Term SOFR +1,25–2,50%, in base al rapporto net debt/EBITDA dell’azienda.
  • è garantito da quasi tutti i beni domestici, canadesi e del Regno Unito; le partecipazioni nelle controllate sono vincolate.

I principali covenant finanziari richiedono (1) un rapporto massimo di leva finanziaria lorda ≤3,5× (≤4,0× durante i periodi di acquisizione) e (2) una copertura dei costi fissi minima ≥1,10×. La linea di credito consente dividendi, riacquisti e acquisizioni—fino a 75 milioni di dollari per singola operazione—a condizione che non vi siano inadempienze e che la liquidità rimanga ≥15 milioni di dollari.

L’accordo, sindacato da PNC, Bank of America, Citizens, Wells Fargo e Dollar Bank, migliora la liquidità, allunga la durata del debito e offre flessibilità strategica, sebbene con requisiti di garanzia più stringenti.

L.B. Foster Company (NASDAQ: FSTR) firmó un Quinto Acuerdo de Crédito Modificado y Reformulado el 27 de junio de 2025 que

  • incrementa la línea de crédito revolvente en un 15% hasta 150 millones de dólares (desde 130 millones) e introduce un acordeón incremental de hasta 60 millones de dólares.
  • extiende el vencimiento casi cuatro años, del 13 de agosto de 2026 al 27 de junio de 2030.
  • establece sublímites de 30 millones de dólares para cartas de crédito y 20 millones de dólares para préstamos swing.
  • fija un precio variable basado en Base +0,25–1,50% o Term SOFR +1,25–2,50%, escalonado según el net debt/EBITDA de la compañía.
  • está asegurado por prácticamente todos los activos nacionales, canadienses y del Reino Unido; se pignoran las acciones de las subsidiarias.

Los principales convenios financieros requieren (1) una relación máxima de apalancamiento bruto ≤3,5× (≤4,0× durante periodos de adquisiciones) y (2) una cobertura mínima de gastos fijos ≥1,10×. La línea permite dividendos, recompras y adquisiciones—hasta 75 millones de dólares por operación—siempre que no haya incumplimientos y la liquidez se mantenga ≥15 millones de dólares.

El acuerdo, sindicado por PNC, Bank of America, Citizens, Wells Fargo y Dollar Bank, mejora la liquidez, extiende el plazo de la deuda y ofrece flexibilidad estratégica, aunque con requisitos de garantía más estrictos.

L.B. Foster Company (NASDAQ: FSTR)는 2025년 6월 27일에 다섯 번째 수정 및 재작성된 신용 계약을 체결했으며, 이 계약은

  • 회전 신용 한도를 15% 증가시켜 1억 5천만 달러로 확장(기존 1억 3천만 달러)하고 최대 6천만 달러의 추가 확장 옵션(accordion)을 도입했습니다.
  • 만기일을 거의 4년 연장하여 2026년 8월 13일에서 2030년 6월 27일로 변경했습니다.
  • 신용장에 대해 3천만 달러, 스윙 대출에 대해 2천만 달러의 하위 한도를 제공합니다.
  • 회사의 순부채/EBITDA에 따라 기본금리(Base) +0.25–1.50% 또는 Term SOFR +1.25–2.50%의 변동 금리를 설정했습니다.
  • 국내, 캐나다 및 영국 내 거의 모든 자산을 담보로 하며, 자회사의 지분도 담보로 설정됩니다.

주요 재무 약정에는 (1) 최대 총 레버리지 비율 ≤3.5배 (인수 기간 동안 ≤4.0배)와 (2) 최소 고정비 부담 커버리지 비율 ≥1.10배가 요구됩니다. 이 신용 시설은 부채 불이행이 없고 유동성이 최소 1,500만 달러 이상인 경우, 배당금, 자사주 매입 및 건당 최대 7,500만 달러까지의 인수를 허용합니다.

PNC, Bank of America, Citizens, Wells Fargo 및 Dollar Bank가 공동 주관한 이 계약은 유동성을 강화하고 부채 만기를 연장하며 전략적 유연성을 제공하지만, 담보 요구 조건은 강화되었습니다.

L.B. Foster Company (NASDAQ: FSTR) a conclu un cinquième accord de crédit modifié et reformulé le 27 juin 2025 qui

  • augmente la facilité de crédit renouvelable de 15 % à 150 millions de dollars (contre 130 millions) et introduit un accordéon incrémental allant jusqu'à 60 millions de dollars.
  • prolonge l’échéance de près de quatre ans, du 13 août 2026 au 27 juin 2030.
  • prévoit des sous-limites de 30 millions de dollars pour les lettres de crédit et de 20 millions de dollars pour les prêts swing.
  • fixe un tarif variable à Base +0,25–1,50 % ou Term SOFR +1,25–2,50 %, modulé en fonction du ratio dette nette/EBITDA de la société.
  • est garanti par pratiquement tous les actifs domestiques, canadiens et britanniques ; les actions des filiales sont nanties.

Les principaux engagements financiers exigent (1) un ratio d’endettement brut maximal ≤3,5× (≤4,0× pendant les périodes d’acquisition) et (2) une couverture minimale des charges fixes ≥1,10×. La facilité autorise les dividendes, rachats et acquisitions — jusqu’à 75 millions de dollars par opération — à condition qu’aucun défaut n’existe et que la liquidité reste ≥15 millions de dollars.

L’accord, syndiqué par PNC, Bank of America, Citizens, Wells Fargo et Dollar Bank, améliore la liquidité, prolonge la durée de la dette et offre une flexibilité stratégique, bien que les exigences en matière de garanties soient renforcées.

L.B. Foster Company (NASDAQ: FSTR) hat am 27. Juni 2025 eine fünfte geänderte und neu gefasste Kreditvereinbarung abgeschlossen, die

  • die revolvierende Kreditfazilität um 15 % auf 150 Millionen US-Dollar (von 130 Millionen) erhöht und eine zusätzliche Akkordeonoption von bis zu 60 Millionen US-Dollar einführt.
  • die Laufzeit um fast vier Jahre verlängert – vom 13. August 2026 bis zum 27. Juni 2030.
  • Untergrenzen von 30 Millionen US-Dollar für Akkreditiv und 20 Millionen US-Dollar für Swing-Darlehen vorsieht.
  • eine variable Verzinsung festlegt, die sich an Base +0,25–1,50 % oder Term SOFR +1,25–2,50 % orientiert und nach dem Netto-Schulden/EBITDA des Unternehmens gestaffelt ist.
  • durch nahezu alle inländischen, kanadischen und britischen Vermögenswerte besichert ist; die Beteiligungen der Tochtergesellschaften sind verpfändet.

Wichtige finanzielle Auflagen verlangen (1) eine maximale Brutto-Verschuldungsquote ≤3,5× (≤4,0× während Akquisitionsperioden) und (2) eine minimale Deckung der Fixkosten ≥1,10×. Die Fazilität erlaubt Dividenden, Rückkäufe und Akquisitionen – bis zu 75 Millionen US-Dollar pro Transaktion – vorausgesetzt, es liegen keine Zahlungsausfälle vor und die Liquidität bleibt ≥15 Millionen US-Dollar.

Das von PNC, Bank of America, Citizens, Wells Fargo und Dollar Bank syndizierte Abkommen verbessert die Liquidität, verlängert die Laufzeit der Schulden und bietet strategische Flexibilität, allerdings mit strengeren Sicherheitenanforderungen.

WILLIAMS COMPANIES, INC. false 0000107263 0000107263 2025-06-30 2025-06-30
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 30, 2025

 

 

The Williams Companies, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   1-4174   73-0569878
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

One Williams Center

Tulsa, Oklahoma

  74172-0172
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (918) 573-2000

NOT APPLICABLE

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common Stock, $1.00 par value   WMB   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

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 Material Definitive Agreement.

On June 30, 2025, The Williams Companies, Inc. (the “Company”) completed a registered offering (the “Offering”) of $750 million aggregate principal amount of its 4.625% Senior Notes due 2030 (the “2030 Notes”) and $750 million aggregate principal amount of its 5.300% Senior Notes due 2035 (the “2035 Notes” and together with the 2030 Notes, the “Notes”). The Offering has been registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a registration statement on Form S-3 (Registration No. 333-277232) of the Company (the “Registration Statement”) and the prospectus supplement dated June 26, 2025 and filed with the Securities and Exchange Commission pursuant to Rule 424(b) of the Securities Act on June 27, 2025 (the “Prospectus Supplement”).

The Notes were issued pursuant to an Indenture (the “Base Indenture”), dated as of December 18, 2012, between the Company and The Bank of New York Mellon Trust Company, N.A. as trustee (the “Trustee”), as supplemented by the Twelfth Supplemental Indenture (the “Twelfth Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), dated as of June 30, 2025, between the Company and the Trustee. Each of the 2030 Notes and the 2035 Notes are represented by a global security, the applicable forms of which are included as exhibits to the Twelfth Supplemental Indenture.

The 2030 Notes will pay interest semi-annually in cash in arrears on June 30 and December 30 of each year, beginning on December 30, 2025. The 2035 Notes will pay interest semi-annually in cash in arrears on March 30 and September 30 of each year, beginning on September 30, 2025. The Notes are the Company’s senior unsecured obligations and will rank equally in right of payment with all of its other senior indebtedness and senior to all of its future indebtedness that is expressly subordinated in right of payment to the Notes.

The Indenture contains covenants that, among other things, restrict the Company’s ability to incur liens on assets to secure certain debt and merge, consolidate or sell, assign, transfer, lease convey or otherwise dispose of all or substantially all of its assets, subject to certain qualifications and exceptions. The Indenture includes customary events of default, including payment defaults and certain events of bankruptcy, insolvency or reorganization.

The Company may redeem some or all of the Notes at any time or from time to time prior to May 30, 2030 in the case of the 2030 Notes, and June 30, 2035 in the case of the 2035 Notes, at a specified “make-whole” premium described in the Indenture. The Company also has the option at any time or from time to time on or after May 30, 2030, in the case of the 2030 Notes, and June 30, 2035, in the case of the 2035 Notes, to redeem the applicable Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon to the redemption date, as more fully described in the Indenture. A copy of the Base Indenture was previously filed, and a copy of the Twelfth Supplemental Indenture is filed as Exhibit 4.1 to this report. The description of the terms of the Base Indenture and the Twelfth Supplemental Indenture in this Item 1.01 are qualified in their entirety by reference to such exhibits.

 

Item 9.01.

Financial Statements and Exhibits.

 

  (d)

Exhibits.

 

Exhibit
Number

  

Description

4.1    Twelfth Supplemental Indenture, dated as of June 30, 2025, between The Williams Companies, Inc. and The Bank of New York Mellon Trust Company, N.A. as trustee.
104    Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document (contained in Exhibit 101).

 


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.

 

      THE WILLIAMS COMPANIES, INC.
Dated: June 30, 2025     By:  

/s/ Robert E. Riley, Jr.

      Robert E. Riley, Jr.
      Vice President and Assistant General Counsel - Corporate Secretary and Corporate Strategic Development

FAQ

How much borrowing capacity does L.B. Foster (FSTR) now have under the new credit facility?

The revolver is $150 million with an additional $60 million accordion, versus $130 million previously.

When does the amended credit agreement for FSTR mature?

The facility matures on June 27, 2030, extending the prior 2026 deadline by nearly four years.

What are the key financial covenants in the new FSTR credit agreement?

A max gross leverage ratio of 3.5× (4.0× during acquisitions) and a min fixed-charge coverage ratio of 1.10× must be maintained.

Are dividends and share buybacks allowed under the FSTR facility?

Yes—if no default exists and liquidity stays above $15 million, dividends, buybacks and redemptions are permitted.

What interest rates apply to FSTR’s new revolving credit facility?

Borrowings accrue at Base Rate +0.25–1.50% or Term SOFR +1.25–2.50%, depending on leverage tiers.
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