Myers Industries refinances with new $250M term loan, extends credit line
What's the deal? Myers IndustriesDealroom has a profile for this one. Try Dealroom → has amended its loan agreement to establish a new $250 million term loan and extend its existing $250 million revolving credit facility. The company entered the amendment on July 28, 2026, with JPMorgan ChaseDealroom has a profile for this one. Try Dealroom → Bank, National Association, as administrative agent and certain lenders.
Why now? The amendment extends the revolving facility's maturity from September 29, 2027 to the fifth anniversary of the amendment. Both facilities now share that new five-year maturity date.
What's the endgame? The new term loan will refinance term loans outstanding under the existing agreement, which dated back to September 29, 2022. Proceeds from the revolving facility will refinance existing term loans and cover working capital and general corporate purposes.
What are the terms? The amendment lowered borrowing costs, cutting margins to between 1.100% and 1.950% for Term SOFR, RFR, SONIA, EURIBOR and CORRA loans, and between 0.100% and 0.950% for base rate loans, depending on net leverage.
It also set the maximum leverage ratio at 3.50 to 1.00 on a net basis, with a holiday period of 4.00 to 1.00 for four fiscal quarters tied to a material acquisition. The term loans amortise quarterly at 5% of the original principal each year and may be prepaid without penalty.
What else changed? The amendment removed the existing LIBOR adjustment from the Term SOFR and RFR rate calculations. It also released the MTS Sale Specified Subsidiaries as guarantors until January 28, 2027, unless the MTS Sale closes by that date.
The signal: The refinancing lets Myers Industries push out maturities and trim borrowing costs while keeping its $250 million revolving line intact — a routine but telling move to shore up flexibility ahead of a potential acquisition.
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