Harsco extends $700 million revolving credit facility to 2026

By Taylor Fox

New York, March 10 – Harsco Corp. extended the maturity date of its $700 million revolving credit facility to March 10, 2026 under the senior secured credit facility amendment number seven to third amended and restated credit agreement, according to an 8-K filing with the Securities and Exchange Commission.

The amendment also increases certain levels set forth in the total net leverage ratio covenant.

The interest rate applicable to the revolving credit loans bears interest at a rate, depending on total net leverage, ranging from 50 basis points to 150 bps over base rate or 150 bps to 250 bps over Libor, subject to a 0% floor.

Under the revolving credit facility, the company’s total net leverage is capped at 5.75x of consolidated adjusted EBITDA through the end of 2021. The maximum total net leverage ratio is reduced quarterly thereafter, reaching 4.0x for the first quarter in 2023.

Harsco is a Camp Hill, Pa.-based industrial company providing engineered products and industrial services to the steel, rail and energy industries.

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