DPC Holdings PLC, trading as Doncasters (NYSE: DPC), entered into a new credit agreement on September 3, 2026, with a syndicate of financial institutions and Barclays Bank PLC as the administrative agent. The agreement establishes a $325 million senior unsecured revolving credit facility with multi-currency borrowing capabilities, allowing for loans in U.S. Dollars, Euro, and Sterling.
The facility matures on September 3, 2029, though the company retains the discretion to extend it by an additional two years. It includes an uncommitted accordion facility that allows for an increase of up to $150 million. Additionally, the agreement features a swingline sub-facility for U.S. Dollar loans of up to $50 million and a letter of credit sub-facility for up to $50 million.
Interest rates under the agreement are determined by the Borrowers' election and are based on either a benchmark rate (such as Term SOFR for U.S. Dollars) or the Alternate Base Rate, plus an applicable rate. This applicable rate varies across six pricing levels based on the Company’s total net leverage ratio. The agreement also includes customary covenants and events of default.
In connection with this new facility, DPC Holdings PLC and its subsidiaries repaid the remaining balances, including accrued interest, on two prior debt facilities: a senior secured term note loan facility entered into in April 2024 and a senior secured asset backed lending facility with Wells Fargo entered into in March 2020. The Company and its subsidiaries have also entered into a separate Guarantee Agreement to secure the obligations under the new credit facility.
