Concrete Pumping amends ABL revolver, lifting size to $225 million

By Wendy Van Sickle

Columbus, Ohio, June 5 – Concrete Pumping Holdings Inc. amended its senior secured ABL revolving credit facility due June 1, 2028 to increase the size to $225 million from $160 million and increase the letter-of-credit sublimit to $22.5 million from $10.5 million, according to an 8-K filed with the Securities and Exchange Commission on Monday.

An accordion feature permits an increase of up to an additional $75 million.

Pricing on the revolver is SOFR plus 225 basis points with a 25 bps step-down if the quarterly average excess availability is greater than or equal to 50% of the maximum revolver amount.

The amendment was completed on June 1.

Wells Fargo Bank is the administrative agent.

Concrete Pumping is a Thornton, Colo.-based provider of concrete pumping and waste management services.

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