- Patrick Industries Inc PATK has amended its credit agreement to expand its existing senior secured credit facility to $925 million from $700 million.
- The expanded credit facility includes a $775 million revolving credit facility and a $150 million term loan.
- The maturity date for borrowings under the credit agreement was extended to August 2027 from April 2026.
- The base interest rates for borrowings under the credit agreement were changed to the Secured Overnight Financing Rate (SOFR) from LIBOR.
- Price Action: PATK shares are trading higher by 1.26% at $63.27 on the last check Monday.
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