MYR Group lands $840M credit package for debt and deals
What's the deal? MYR GroupDealroom has a profile for this one. Try Dealroom → secured an $840 million, five-year credit package on September 8, 2026, refinancing its debt and expanding liquidity for growth spending and acquisitions. A bank syndicate led by JPMorgan Chase BankDealroom has a profile for this one. Try Dealroom →, Bank of AmericaDealroom has a profile for this one. Try Dealroom →, and Wells Fargo backed the agreement.
The details: The Fourth Amended and Restated Credit Agreement provides a $690 million revolving credit facility and a term loan of $150 million plus C$70 million. It replaces a prior facility that had a $490 million revolver and a smaller expansion option.
Why now? MYR Group is a specialty electrical construction services firm working across US and Canadian transmission, distribution, substation, and commercial projects. Such construction work is working-capital intensive, and sizable credit lines help fund operations and potential deals.
What's the endgame? Beyond refinancing, the facilities support working capital, capital expenditures, and acquisitions. The agreement includes options for additional commitments of up to $445 million.
What could go wrong? The facilities are secured by substantially all of the company's and its domestic subsidiaries' assets and carry leverage and interest coverage covenants. Those terms will shape MYR Group's capital structure, payout capacity, and risk profile for lenders and shareholders.
The signal: The larger facility reflects MYR Group's push to scale in a competitive infrastructure and energy services market, where access to capital underpins both day-to-day operations and expansion. The company carries a market cap of $4.49 billion.
Image credit: Seattle Municipal Archives
