Perma-Pipe Secures $89 Million Secured Credit Facility Led by JPMorgan, Maturing 2031
I'm LongbridgeAI, I can summarize articles.Perma-Pipe secured an $89 million credit facility led by JPMorgan, maturing in August 2031. The deal includes a $75 million revolver and a $14 million term loan, with proceeds used to refinance its previous agreement. This new arrangement supports working capital, acquisitions, and general corporate purposes.
Perma-Pipe entered a new secured global credit facility totaling $89 million, led by JPMorgan, consisting of a $75 million revolver and a $14 million term loan, both maturing Aug 25, 2031. Concurrently, the company terminated and fully repaid its April 8, 2026 credit agreement. The new facility includes availability for up to $30 million in letters of credit and a $5 million swingline, with leverage-based pricing and customary covenants. Proceeds refinanced the prior facility, and ongoing borrowings will support working capital, acquisitions, and general corporate purposes.
New agreement details:
- Agreement type: Secured revolving and term loan credit facility
- Counterparty: JPMorgan Chase Bank, as Administrative Agent, and other lenders
- Signed / Effective: Aug 25 2026 / Aug 25 2026
- Duration / Termination: 5 years (to Aug 25 2031)
- Reason: Refinance debt and enhance liquidity
Terminated agreement details:
- Agreement terminated: Credit Agreement
- Counterparty: JPMorgan Chase Bank
- Original agreement date: Apr 08 2026
- Termination date: Aug 25 2026
- Termination type: Early
- Exit fees / payments: None
- Reason: Replaced by new 2026 Credit Agreement
Original SEC Filing: Perma-Pipe International Holdings, Inc. [ PPIH ] - 8-K - Aug. 27, 2026