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Oil-Dri Expands BMO Revolving Credit Facility to $100 Million and Extends Maturity to 2031
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Oil-Dri strengthened its financing platform with two amendments. The company expanded its BMO revolving credit facility to $100 million, added an accordion up to the greater of an additional $125 million or 100% of Consolidated EBITDA, reduced pricing, and extended the maturity to October 7, 2031, while updating covenants and adding restricted payment conditions. Separately, Oil-Dri amended its note purchase and private shelf agreement with PGIM and affiliated…