[8-K] Arcosa, Inc. Reports Material Event
Arcosa, Inc. (NYSE: ACA) has refinanced its senior credit facility. On 17-Jun-2025 the company executed Amendment No. 2 to its Second Amended and Restated Credit Agreement, creating a new $698.25 million term loan (the 鈥�2025 Refinancing Term Loan鈥�). Net proceeds plus cash on hand were used to fully repay the prior term loan, leaving total term-loan principal unchanged but on improved terms.
- Pricing: Borrower may choose SOFR + 2.00% or an alternate base rate + 1.00%, representing a 25 bp reduction versus the previous facility.
- Call protection: 1% premium applies only if a repricing or refinance occurs within six months; thereafter the loan is prepayable at par (SOFR breakage costs only).
- Structure: All covenants and maturities remain consistent with the prior loan; JPMorgan continues as administrative agent.
- Purpose: Pure refinancing鈥攏o new liquidity raised beyond replacing the original term loan.
The transaction marginally lowers Arcosa鈥檚 borrowing cost and gives modest flexibility without extending leverage. No off-balance-sheet obligations were created.
Arcosa, Inc. (NYSE: ACA) ha rifinanziato la sua linea di credito senior. Il 17 giugno 2025, la societ脿 ha eseguito l'Emendamento n. 2 al suo Secondo Accordo di Credito Modificato e Rifirmato, creando un nuovo prestito a termine da 698,25 milioni di dollari (il 鈥淧restito a Termine Rifinanziato 2025鈥�). I proventi netti, insieme alla liquidit脿 disponibile, sono stati utilizzati per estinguere completamente il precedente prestito a termine, mantenendo invariato il capitale totale del prestito ma con condizioni migliorate.
- Prezzi: Il mutuatario pu貌 scegliere tra SOFR + 2,00% o un tasso base alternativo + 1,00%, con una riduzione di 25 punti base rispetto alla precedente linea.
- Protezione contro il richiamo: Un premio dell'1% si applica solo se avviene una rinegoziazione o un rifinanziamento entro sei mesi; successivamente il prestito 猫 rimborsabile anticipatamente al valore nominale (solo costi di interruzione SOFR).
- Struttura: Tutti i covenant e le scadenze rimangono coerenti con il prestito precedente; JPMorgan continua come agente amministrativo.
- Scopo: Rifinanziamento puro鈥攏on sono state raccolte nuove liquidit脿 oltre alla sostituzione del prestito originale.
L'operazione riduce marginalmente il costo del debito di Arcosa e offre una flessibilit脿 modesta senza aumentare la leva finanziaria. Non sono stati creati obblighi fuori bilancio.
Arcosa, Inc. (NYSE: ACA) ha refinanciado su l铆nea de cr茅dito senior. El 17 de junio de 2025, la compa帽铆a ejecut贸 la Enmienda No. 2 a su Segundo Acuerdo de Cr茅dito Modificado y Restablecido, creando un nuevo pr茅stamo a plazo de 698,25 millones de d贸lares (el 鈥淧r茅stamo a Plazo de Refinanciamiento 2025鈥�). Los ingresos netos junto con el efectivo disponible se usaron para pagar completamente el pr茅stamo a plazo anterior, manteniendo el principal total del pr茅stamo sin cambios pero con mejores condiciones.
- Precio: El prestatario puede elegir SOFR + 2.00% o una tasa base alternativa + 1.00%, lo que representa una reducci贸n de 25 puntos b谩sicos respecto a la facilidad anterior.
- Protecci贸n contra llamada: Se aplica una prima del 1% solo si ocurre una reestructuraci贸n o refinanciamiento dentro de los seis meses; despu茅s de ese per铆odo, el pr茅stamo se puede prepagar al valor nominal (solo costos de ruptura SOFR).
- Estructura: Todos los convenios y vencimientos permanecen consistentes con el pr茅stamo anterior; JPMorgan contin煤a como agente administrativo.
- 笔谤辞辫贸蝉颈迟辞: Refinanciamiento puro鈥攏o se ha recaudado nueva liquidez m谩s all谩 de reemplazar el pr茅stamo a plazo original.
La transacci贸n reduce marginalmente el costo de endeudamiento de Arcosa y ofrece una flexibilidad modesta sin aumentar el apalancamiento. No se crearon obligaciones fuera de balance.
Arcosa, Inc. (NYSE: ACA)臧� 靹犾垳鞙� 鞁犾毄 鞁滌劋鞚� 鞛湹鞛愴枅鞀惦媹雼�. 2025雲� 6鞗� 17鞚�, 須岇偓電� 霊� 氩堨Ц 靾橃爼 氚� 鞛瀾靹彪悳 鞁犾毄 瓿勳暯鞐� 雽�頃� 靾橃爼鞎� 2順鸽ゼ 觳搓舶頃橃棳 靸堧鞖� 6鞏� 9,825毵� 雼煬鞚� 毵岅赴 雽�於�(鈥�2025雲� 鞛湹鞛� 毵岅赴 雽�於溾��)鞚� 毵岆摛鞐堨姷雼堧嫟. 靾滌垬鞚店臣 順勱笀鞚� 靷毄頃橃棳 鞚挫爠 毵岅赴 雽�於滌潉 鞝勳暋 靸來櫂頄堨溂氅�, 齑� 毵岅赴 雽�於� 鞗愱笀鞚� 氤�頃梿鞙茧倶 臁瓣贝鞚� 臧滌劆霅橃棃鞀惦媹雼�.
- 旮堧Μ: 彀瀰鞛愲姅 SOFR + 2.00% 霕愲姅 雽�觳� 旮办旮堧Μ + 1.00% 欷� 靹犿儩頃� 靾� 鞛堨溂氅�, 鞚措姅 鞚挫爠 鞁滌劋 雽�牍� 25bp 鞚疙晿霅� 旮堧Μ鞛呺媹雼�.
- 旖� 氤错樃: 6臧滌洈 鞚措偞 鞛皜瓴� 臁办爼 霕愲姅 鞛湹鞛愱皜 氚滌儩頃� 瓴届毎鞐愲 1% 頂勲Μ氙胳梽鞚� 鞝侅毄霅橂┌, 鞚错泟鞐愲姅 鞗愱笀 靸來櫂 鞁� 頂勲Μ氙胳梽 鞐嗢澊 靸來櫂 臧�電�(雼�, SOFR 鞙勳暯旮堧 攵�瓿�).
- 甑“: 氇摖 瓿勳暯 臁瓣贝瓿� 毵岅赴電� 鞚挫爠 雽�於滉臣 鞚检箻頃橂┌, JPMorgan鞚� 瓿勳啀頃挫劀 頄夓爼 雽�毽澑 鞐暊鞚� 靾橅枆頃╇媹雼�.
- 氇╈爜: 靾滌垬 鞛湹鞛愨�旍洂霝� 毵岅赴 雽�於滌潉 雽�觳错晿電� 瓴� 鞕胳棎 靸堧鞖� 鞙犽彊靹� 臁半嫭鞚� 鞐嗢姷雼堧嫟.
鞚措矆 瓯半灅電� Arcosa鞚� 彀瀰 牍勳毄鞚� 靻岉彮 雮稊瓿�, 霠堧矂毽毳� 電橂Μ歆� 鞎婌溂氅挫劀 鞝侂嫻頃� 鞙犾棸靹膘潉 鞝滉车頃╇媹雼�. 雽�彀寑臁绊憸 鞕� 鞚橂電� 靸濎劚霅橃 鞎婌晿鞀惦媹雼�.
Arcosa, Inc. (NYSE : ACA) a refinanc茅 sa facilit茅 de cr茅dit senior. Le 17 juin 2025, la soci茅t茅 a ex茅cut茅 l鈥橝mendement n掳 2 脿 son Accord de Cr茅dit modifi茅 et restreint, cr茅ant un nouveau pr锚t 脿 terme de 698,25 millions de dollars (le 芦 Pr锚t 脿 Terme de Refinancement 2025 禄). Le produit net, ajout茅 脿 la tr茅sorerie disponible, a 茅t茅 utilis茅 pour rembourser int茅gralement le pr锚t 脿 terme pr茅c茅dent, laissant le principal total inchang茅 mais avec des conditions am茅lior茅es.
- Tarification : L鈥檈mprunteur peut choisir entre SOFR + 2,00 % ou un taux de base alternatif + 1,00 %, ce qui repr茅sente une r茅duction de 25 points de base par rapport 脿 la facilit茅 pr茅c茅dente.
- Protection contre le remboursement anticip茅 : Une prime de 1 % s鈥檃pplique uniquement si un re-pricing ou un refinancement intervient dans les six mois ; ensuite, le pr锚t est remboursable au pair (seuls les frais de rupture SOFR s鈥檃ppliquent).
- Structure : Tous les engagements et 茅ch茅ances restent conformes au pr锚t pr茅c茅dent ; JPMorgan continue en tant qu鈥檃gent administratif.
- Objectif : Refinancement pur 鈥� aucune nouvelle liquidit茅 n鈥檃 茅t茅 lev茅e au-del脿 du remplacement du pr锚t 脿 terme initial.
Cette op茅ration r茅duit l茅g猫rement le co没t d鈥檈mprunt d鈥橝rcosa et offre une flexibilit茅 mod茅r茅e sans augmenter l鈥檈ffet de levier. Aucune obligation hors bilan n鈥檃 茅t茅 cr茅茅e.
Arcosa, Inc. (NYSE: ACA) hat seine Senior-Kreditfazilit盲t refinanziert. Am 17. Juni 2025 f眉hrte das Unternehmen die 脛nderung Nr. 2 zu seinem Zweiten ge盲nderten und neu gefassten Kreditvertrag durch und schuf einen neuen Terminkredit 眉ber 698,25 Millionen US-Dollar (den 鈥�2025 Refinanzierungs-Terminkredit鈥�). Die Nettoerl枚se plus vorhandene Barmittel wurden verwendet, um den vorherigen Terminkredit vollst盲ndig zur眉ckzuzahlen, wodurch der gesamte Terminkreditbetrag unver盲ndert blieb, jedoch zu verbesserten Konditionen.
- Preisgestaltung: Der Kreditnehmer kann zwischen SOFR + 2,00 % oder einem alternativen Basiszinssatz + 1,00 % w盲hlen, was eine Reduzierung von 25 Basispunkten gegen眉ber der vorherigen Fazilit盲t darstellt.
- 碍眉苍诲颈驳耻苍驳蝉蝉肠丑耻迟锄: Eine Pr盲mie von 1 % gilt nur, wenn eine Neupreisgestaltung oder Refinanzierung innerhalb von sechs Monaten erfolgt; danach kann der Kredit zum Nennwert vorzeitig zur眉ckgezahlt werden (nur SOFR-Abbruchkosten).
- Struktur: Alle Auflagen und Laufzeiten bleiben unver盲ndert zum vorherigen Kredit; JPMorgan bleibt administrativer Agent.
- Zweck: Reine Refinanzierung鈥攅s wurde keine neue Liquidit盲t 眉ber den Ersatz des urspr眉nglichen Terminkredits hinaus aufgenommen.
Die Transaktion senkt die Finanzierungskosten von Arcosa geringf眉gig und bietet eine moderate Flexibilit盲t, ohne die Verschuldung zu erh枚hen. Es wurden keine au脽erbilanziellen Verpflichtungen geschaffen.
- Interest margin reduced by 25 bp, cutting annual cash interest by roughly $1.7 million on the $698 million balance.
- Prepayment flexibility after six months at par enhances capital structure agility.
- No incremental leverage added; proceeds solely refinanced existing debt, avoiding balance-sheet expansion.
- Floating-rate exposure to SOFR remains, leaving earnings sensitive to rate increases.
- 1% premium applies to any repricing within six months, limiting near-term optionality.
Insights
TL;DR: 25-bp cheaper $698 m refinance is modestly positive; leverage unchanged, liquidity stable.
By swapping its original term loan for the 2025 Refinancing Term Loan, Arcosa trims roughly $1.7 million in annual interest expense (0.25% 脳 $698 m) while keeping covenant language intact. The six-month, 1% soft call provides lenders repricing protection but does not materially hinder the company鈥檚 flexibility. Because no additional debt was layered on, net leverage metrics remain the same; however, exposure to floating SOFR persists. Overall impact is incremental鈥攈elpful for margins and free cash flow, but not transformative.
TL;DR: Neutral credit impact鈥攔ate cut offsets minor call premium; debt quantum unchanged.
From a creditor鈥檚 lens, the amendment lowers spread yet retains all previous safeguards. The 1% repricing fee disincentivizes rapid churn but is short-lived. Because the loan remains variable-rate, Arcosa stays exposed to SOFR volatility; still, the lower margin narrows that risk buffer. No incremental liens or guarantees were introduced, so senior secured status is preserved. Consequently, the action is seen as credit-neutral to slightly favorable.
Arcosa, Inc. (NYSE: ACA) ha rifinanziato la sua linea di credito senior. Il 17 giugno 2025, la societ脿 ha eseguito l'Emendamento n. 2 al suo Secondo Accordo di Credito Modificato e Rifirmato, creando un nuovo prestito a termine da 698,25 milioni di dollari (il 鈥淧restito a Termine Rifinanziato 2025鈥�). I proventi netti, insieme alla liquidit脿 disponibile, sono stati utilizzati per estinguere completamente il precedente prestito a termine, mantenendo invariato il capitale totale del prestito ma con condizioni migliorate.
- Prezzi: Il mutuatario pu貌 scegliere tra SOFR + 2,00% o un tasso base alternativo + 1,00%, con una riduzione di 25 punti base rispetto alla precedente linea.
- Protezione contro il richiamo: Un premio dell'1% si applica solo se avviene una rinegoziazione o un rifinanziamento entro sei mesi; successivamente il prestito 猫 rimborsabile anticipatamente al valore nominale (solo costi di interruzione SOFR).
- Struttura: Tutti i covenant e le scadenze rimangono coerenti con il prestito precedente; JPMorgan continua come agente amministrativo.
- Scopo: Rifinanziamento puro鈥攏on sono state raccolte nuove liquidit脿 oltre alla sostituzione del prestito originale.
L'operazione riduce marginalmente il costo del debito di Arcosa e offre una flessibilit脿 modesta senza aumentare la leva finanziaria. Non sono stati creati obblighi fuori bilancio.
Arcosa, Inc. (NYSE: ACA) ha refinanciado su l铆nea de cr茅dito senior. El 17 de junio de 2025, la compa帽铆a ejecut贸 la Enmienda No. 2 a su Segundo Acuerdo de Cr茅dito Modificado y Restablecido, creando un nuevo pr茅stamo a plazo de 698,25 millones de d贸lares (el 鈥淧r茅stamo a Plazo de Refinanciamiento 2025鈥�). Los ingresos netos junto con el efectivo disponible se usaron para pagar completamente el pr茅stamo a plazo anterior, manteniendo el principal total del pr茅stamo sin cambios pero con mejores condiciones.
- Precio: El prestatario puede elegir SOFR + 2.00% o una tasa base alternativa + 1.00%, lo que representa una reducci贸n de 25 puntos b谩sicos respecto a la facilidad anterior.
- Protecci贸n contra llamada: Se aplica una prima del 1% solo si ocurre una reestructuraci贸n o refinanciamiento dentro de los seis meses; despu茅s de ese per铆odo, el pr茅stamo se puede prepagar al valor nominal (solo costos de ruptura SOFR).
- Estructura: Todos los convenios y vencimientos permanecen consistentes con el pr茅stamo anterior; JPMorgan contin煤a como agente administrativo.
- 笔谤辞辫贸蝉颈迟辞: Refinanciamiento puro鈥攏o se ha recaudado nueva liquidez m谩s all谩 de reemplazar el pr茅stamo a plazo original.
La transacci贸n reduce marginalmente el costo de endeudamiento de Arcosa y ofrece una flexibilidad modesta sin aumentar el apalancamiento. No se crearon obligaciones fuera de balance.
Arcosa, Inc. (NYSE: ACA)臧� 靹犾垳鞙� 鞁犾毄 鞁滌劋鞚� 鞛湹鞛愴枅鞀惦媹雼�. 2025雲� 6鞗� 17鞚�, 須岇偓電� 霊� 氩堨Ц 靾橃爼 氚� 鞛瀾靹彪悳 鞁犾毄 瓿勳暯鞐� 雽�頃� 靾橃爼鞎� 2順鸽ゼ 觳搓舶頃橃棳 靸堧鞖� 6鞏� 9,825毵� 雼煬鞚� 毵岅赴 雽�於�(鈥�2025雲� 鞛湹鞛� 毵岅赴 雽�於溾��)鞚� 毵岆摛鞐堨姷雼堧嫟. 靾滌垬鞚店臣 順勱笀鞚� 靷毄頃橃棳 鞚挫爠 毵岅赴 雽�於滌潉 鞝勳暋 靸來櫂頄堨溂氅�, 齑� 毵岅赴 雽�於� 鞗愱笀鞚� 氤�頃梿鞙茧倶 臁瓣贝鞚� 臧滌劆霅橃棃鞀惦媹雼�.
- 旮堧Μ: 彀瀰鞛愲姅 SOFR + 2.00% 霕愲姅 雽�觳� 旮办旮堧Μ + 1.00% 欷� 靹犿儩頃� 靾� 鞛堨溂氅�, 鞚措姅 鞚挫爠 鞁滌劋 雽�牍� 25bp 鞚疙晿霅� 旮堧Μ鞛呺媹雼�.
- 旖� 氤错樃: 6臧滌洈 鞚措偞 鞛皜瓴� 臁办爼 霕愲姅 鞛湹鞛愱皜 氚滌儩頃� 瓴届毎鞐愲 1% 頂勲Μ氙胳梽鞚� 鞝侅毄霅橂┌, 鞚错泟鞐愲姅 鞗愱笀 靸來櫂 鞁� 頂勲Μ氙胳梽 鞐嗢澊 靸來櫂 臧�電�(雼�, SOFR 鞙勳暯旮堧 攵�瓿�).
- 甑“: 氇摖 瓿勳暯 臁瓣贝瓿� 毵岅赴電� 鞚挫爠 雽�於滉臣 鞚检箻頃橂┌, JPMorgan鞚� 瓿勳啀頃挫劀 頄夓爼 雽�毽澑 鞐暊鞚� 靾橅枆頃╇媹雼�.
- 氇╈爜: 靾滌垬 鞛湹鞛愨�旍洂霝� 毵岅赴 雽�於滌潉 雽�觳错晿電� 瓴� 鞕胳棎 靸堧鞖� 鞙犽彊靹� 臁半嫭鞚� 鞐嗢姷雼堧嫟.
鞚措矆 瓯半灅電� Arcosa鞚� 彀瀰 牍勳毄鞚� 靻岉彮 雮稊瓿�, 霠堧矂毽毳� 電橂Μ歆� 鞎婌溂氅挫劀 鞝侂嫻頃� 鞙犾棸靹膘潉 鞝滉车頃╇媹雼�. 雽�彀寑臁绊憸 鞕� 鞚橂電� 靸濎劚霅橃 鞎婌晿鞀惦媹雼�.
Arcosa, Inc. (NYSE : ACA) a refinanc茅 sa facilit茅 de cr茅dit senior. Le 17 juin 2025, la soci茅t茅 a ex茅cut茅 l鈥橝mendement n掳 2 脿 son Accord de Cr茅dit modifi茅 et restreint, cr茅ant un nouveau pr锚t 脿 terme de 698,25 millions de dollars (le 芦 Pr锚t 脿 Terme de Refinancement 2025 禄). Le produit net, ajout茅 脿 la tr茅sorerie disponible, a 茅t茅 utilis茅 pour rembourser int茅gralement le pr锚t 脿 terme pr茅c茅dent, laissant le principal total inchang茅 mais avec des conditions am茅lior茅es.
- Tarification : L鈥檈mprunteur peut choisir entre SOFR + 2,00 % ou un taux de base alternatif + 1,00 %, ce qui repr茅sente une r茅duction de 25 points de base par rapport 脿 la facilit茅 pr茅c茅dente.
- Protection contre le remboursement anticip茅 : Une prime de 1 % s鈥檃pplique uniquement si un re-pricing ou un refinancement intervient dans les six mois ; ensuite, le pr锚t est remboursable au pair (seuls les frais de rupture SOFR s鈥檃ppliquent).
- Structure : Tous les engagements et 茅ch茅ances restent conformes au pr锚t pr茅c茅dent ; JPMorgan continue en tant qu鈥檃gent administratif.
- Objectif : Refinancement pur 鈥� aucune nouvelle liquidit茅 n鈥檃 茅t茅 lev茅e au-del脿 du remplacement du pr锚t 脿 terme initial.
Cette op茅ration r茅duit l茅g猫rement le co没t d鈥檈mprunt d鈥橝rcosa et offre une flexibilit茅 mod茅r茅e sans augmenter l鈥檈ffet de levier. Aucune obligation hors bilan n鈥檃 茅t茅 cr茅茅e.
Arcosa, Inc. (NYSE: ACA) hat seine Senior-Kreditfazilit盲t refinanziert. Am 17. Juni 2025 f眉hrte das Unternehmen die 脛nderung Nr. 2 zu seinem Zweiten ge盲nderten und neu gefassten Kreditvertrag durch und schuf einen neuen Terminkredit 眉ber 698,25 Millionen US-Dollar (den 鈥�2025 Refinanzierungs-Terminkredit鈥�). Die Nettoerl枚se plus vorhandene Barmittel wurden verwendet, um den vorherigen Terminkredit vollst盲ndig zur眉ckzuzahlen, wodurch der gesamte Terminkreditbetrag unver盲ndert blieb, jedoch zu verbesserten Konditionen.
- Preisgestaltung: Der Kreditnehmer kann zwischen SOFR + 2,00 % oder einem alternativen Basiszinssatz + 1,00 % w盲hlen, was eine Reduzierung von 25 Basispunkten gegen眉ber der vorherigen Fazilit盲t darstellt.
- 碍眉苍诲颈驳耻苍驳蝉蝉肠丑耻迟锄: Eine Pr盲mie von 1 % gilt nur, wenn eine Neupreisgestaltung oder Refinanzierung innerhalb von sechs Monaten erfolgt; danach kann der Kredit zum Nennwert vorzeitig zur眉ckgezahlt werden (nur SOFR-Abbruchkosten).
- Struktur: Alle Auflagen und Laufzeiten bleiben unver盲ndert zum vorherigen Kredit; JPMorgan bleibt administrativer Agent.
- Zweck: Reine Refinanzierung鈥攅s wurde keine neue Liquidit盲t 眉ber den Ersatz des urspr眉nglichen Terminkredits hinaus aufgenommen.
Die Transaktion senkt die Finanzierungskosten von Arcosa geringf眉gig und bietet eine moderate Flexibilit盲t, ohne die Verschuldung zu erh枚hen. Es wurden keine au脽erbilanziellen Verpflichtungen geschaffen.
| Date of Report (Date of Earliest Event Reported): | ||||||||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | |||||||||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||||||||
| Not Applicable | ||
| (Former name or former address, if changed since last report) | ||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Exhibit No. | Description | ||||
10.1 | Amendment No. 2 to Second Amended and Restated Credit Agreement, dated as of June 17, 2025, among Arcosa, Inc., as borrower, certain subsidiaries of Arcosa, Inc., as guarantors (for the limited purposes set forth therein), the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent. | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||
| Arcosa, Inc. | ||||||||
| June 18, 2025 | By: | /s/ Gail M. Peck | ||||||
| Name: Gail M. Peck | ||||||||
| Title: Chief Financial Officer | ||||||||
Source:
FAQ
What did Arcosa (ACA) announce in its June 17 2025 8-K?
How does the new loan affect Arcosa鈥檚 interest rate?
Does the refinancing increase Arcosa鈥檚 total debt?
Is there a prepayment penalty on the 2025 Refinancing Term Loan?
Who is the administrative agent on the amended credit facility?
Were any covenants or maturities changed?
