Everus lifts term loans to $477.5M in $480M debt refinancing
What's the deal? Everus Construction GroupDealroom has a profile for this one. Try Dealroom → (NYSE: ECG) has increased its term loans by $200 million to $477.5 million and expanded its revolving credit commitments by $125 million to $350 million. The move refinances its original senior secured first-lien term loans, replacing them with new 2026 Refinancing Term Loans.
The details: The amended credit agreement cuts pricing across the board. Term SOFR margins now range from 1.75% to 2.50%, down from 2.00% to 2.75%, while base-rate borrowings carry margins of 0.75% to 1.50%.
Undrawn revolving commitments incur fees of 0.25% to 0.40%, down from 0.30% to 0.45%. The revolver includes a $50 million letter-of-credit sublimit, and EverusDealroom has a profile for this one. Try Dealroom → paid customary fees tied to the amendment.
What's the endgame? Term-loan proceeds will fund the Epsilon Acquisition, related fees, working capital, and general corporate purposes. Aside from the pricing changes, other significant terms of the original agreement remain largely unchanged.
The signal: At roughly $480 million, the refinancing sits in the upper reaches of post-IPO debt raises, placing it in the top third by size. Lower interest margins and commitment fees give Everus cheaper capital to pursue growth through acquisition.
Read more: kalkinemedia.com
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