Enviri Corporation completes refinancing of Revolving Credit Facility
Enviri Corporation (NVRI)
Company Research
Source: GlobeNewswire
PHILADELPHIA, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) today announced that it has amended and extended its senior secured revolving credit facility (the “Revolving Credit Facility”). The Company’s new $625 million revolving credit facility (the “Extended Revolving Credit Facility”) will mature on September 5, 2029. Additionally, the Company will maintain its existing Revolving Credit Facility for an amount of $50 million with certain lenders (together with the Extended Revolving Credit Facility, the ”Revolving Credit Facilities”). This facility will mature on March 10, 2026. Together, the Company has $675 million available under its Revolving Credit Facilities. The Company’s Revolving Credit Facilities have also been amended with favorable covenant modifications. Specifically, the total net leverage ratio covenant, currently capped at 5.00x of consolidated adjusted EBITDA, will step down to 4.75x beginning September 30, 2024, to 4.50x beginning June 30,
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