Helios Technologies, Inc. announced it has entered into an amendment and restatement of its existing term loans and revolving credit facility to extend debt maturities, strengthen and streamline its lender group, reduce borrowing spreads, and expand the borrowing capacity under both its revolving credit facility and accordion feature. The amended credit agreement extends debt maturity for five years to June 25, 2029, upsizes the Company?s revolving credit facility from $400 million to $500 million, and establishes a new $300 million term loan that refinances and replaces the previous term loan. The accordion feature is increased by $100 million, to $400 million.

The amended credit agreement also reduces borrowing spreads by a range of 25 basis points bps to 50 bps compared to the previous credit agreement, dependent upon the Company?s net leverage ratio. In addition, the LIBOR to SOFR transitionary credit spread adjustment of 10 bps has been eliminated. PNC Bank, National Association served as administrative agent for the new credit agreement.