Eagle Materials extends revolver a year, increases leverage ratio

By Wendy Van Sickle

Columbus, Ohio, April 13 – Eagle Materials, Inc. amended its bank credit facility and term loan to extend the maturity to August 2022 from August 2021 and increased the leverage ratio requirement to 4.5x debt-to-EBITDA with no step downs through maturity, according to a news release.

The company said it is “well-positioned to manage expenses in the face of potential demand impacts from Covid-19.”

At March 31, Eagle Materials had total liquidity of about $295 million, including $115 million of cash on hand plus $180 million of bank revolver availability, with no near-term debt maturities.

Eagle Materials is a Dallas-based manufacturer and distributor of cement, gypsum wallboard, recycled paperboard, concrete, sand and aggregates.

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