Standex International Expands Credit Agreement, Secures Additional $325 Million

On December 6, 2024, Standex International Corporation (NYSE:SXI) entered into a Second Amendment to Third Amended and Restated Credit Agreement, marking a significant development in its financial operations. The Amendment, involving Standex, Citizens Bank, N.A., and other lenders, effectively expanded the company’s available credit under the Revolving Credit Agreement.

The Amendment allowed for an additional $325,000,000 to be made available to Standex under the Initial Revolving Credit Commitment, substantially increasing the total credit availability from $500 million to $825 million. Alongside the augmentation of the credit commitment, the Amendment introduced two new lenders, PNC Bank, National Association, and The Huntington National Bank, with PNC Bank, National Association also serving as a Co-Documentation Agent.

Shortly after the execution of the Amendment, Standex utilized a part of the increased credit facility to pay off and terminate a $250 million Term Loan Credit Agreement. This Term Loan, initially advanced by Citizens Bank, N.A., played a role in financing the Amran Transaction and the Narayan Transaction, both previously disclosed in the Company’s Form 8-K filing on October 31, 2024.

While the fundamental terms and conditions of the Revolving Credit Agreement remain unchanged, the addition of the two new lenders and the boost in credit availability signal Standex’s strategic financial positioning.

For further details on the Amendment and its implications, interested parties are advised to refer directly to the complete texts of the related documents included as Exhibits 10.1 to the Current Report on Form 8-K filed by Standex International Corporation.

This update underscores Standex’s proactive approach to financial management and its commitment to leveraging available resources for strategic growth opportunities.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Standex International’s 8K filing here.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.