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Get filing alertsAmericold amends credit facility, adds AUD$230M + CAD$100M capacity, extends maturities to 2030-31
Filed June 24, 2026 · Period ending June 23, 2026 · ~1 min read
Key Changes
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high
Amended credit facility adds AUD$230M term loan and increases CAD term loan by CAD$100M to CAD$350M, with company drawing full amounts at closing to pay down revolving facility.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
high
Extended revolving credit facility maturity to June 2030 and term loan maturities to June 2031, reducing near-term refinancing risk.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Interest rates range from SOFR plus 0.675%-1.600% based on debt ratings, with pricing tied to company's credit profile.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
medium
Financial covenants include Total Leverage ≤60% (65% post-acquisition), Secured Leverage ≤40% (45% post-acquisition), and Fixed Charge Coverage ≥1.50x.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
Summary
Americold Realty Trust amended its senior credit facility on June 23, 2026, adding significant capacity and extending debt maturities. The company added a new AUD$230 million term loan tranche and increased its Canadian dollar term loan by CAD$100 million to CAD$350 million, drawing both amounts at closing to pay down revolving credit borrowings.
This shifts debt from revolving to term structure while maintaining the $1.15 billion revolving facility for future flexibility. The amendment extends the revolving credit facility maturity to June 2030 and pushes term loan maturities to June 2031, meaningfully reducing refinancing risk over the next several years.
Interest pricing remains ratings-based, ranging from SOFR plus 0.675% to 1.600% depending on facility type and credit profile. The agreement includes standard financial covenants with acquisition flexibility, allowing temporary covenant relief following material acquisitions. For a cold storage REIT with international operations, the multi-currency structure and extended maturities provide operational and financial flexibility to support growth initiatives.
Section-by-Section Diff
Event · Item 1.01 — Entry into a Material Definitive Agreement
Item 1.01 — Entry into a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
The Amended and Restated Credit Agreement increases and extends the maturity of certain tranches of the senior credit facility. The Amended and Restated Credit Agreement includes (1) a $1.15 billion revolving credit facility (the “Revolving Credit Facility”), consisting of (i) a $575 million U.S. dollar tranche, (ii) a $575 million U.S. dollar equivalent alternative currency tranche, and (iii) a $150 million letter of credit sublimit and (2) a term loan facility (the “Term Loan Facility”), consisting of (i) a $375 million term A-1 loan tranche, (ii) a CAD $350 million term A-2 loan tranche, which was increased by CAD $100 million, (iii) a new AUD $230 million term loan tranche, (iv) a $270 million delayed draw term loan tranche and (v) a $250 million 2025 delayed draw term loan tranche.
Americold amended its senior credit facility on June 23, 2026, increasing total capacity and adding new tranches. The CAD term A-2 loan was increased by CAD$100 million to CAD$350 million, and a new AUD$230 million term loan tranche was added. The revolving credit facility remains at $1.15 billion with multiple currency options.
Added in current filing · verify on EDGAR →
The Amended and Restated Credit Agreement contains customary representations and warranties and covenants for a transaction of this type, including financial maintenance covenants, which require that (i) the Total Leverage Ratio be maintained as of any Reference Period at a level of not greater than 60%, provided that the Parent Borrower may elect that such Total Leverage Ratio be permitted to exceed 60% (but no greater than 65%) as of the last day of the four consecutive fiscal quarters immediately following a Material Acquisition, (ii) the Secured Leverage Ratio be maintained as of any Reference Period at a level of not greater than 40%, provided that the Parent Borrower may elect that such Secured Leverage Ratio be permitted to exceed 40% (but no greater than 45%) as of the last day of the four consecutive fiscal quarters immediately following a Material Acquisition, (iii) the Fixed Charge Coverage Ratio be maintained as of any Reference Period at a level of not less than 1.50:1.00, (iv) the Unsecured Interest Coverage Ratio be maintained as of any Reference Period at a level of not less than 1.75:1.00 and (v) the Unencumbered Leverage Ratio be maintained as of any Reference Period at a level of not greater than 60%, provided that the Parent Borrower may elect that such Unencumbered Leverage Ratio be permitted to exceed 60% (but no greater than 65%) as of the last day of the four consecutive fiscal quarters immediately following a Material Acquisition.
The credit agreement includes five financial maintenance covenants: Total Leverage Ratio ≤60% (65% post-acquisition), Secured Leverage Ratio ≤40% (45% post-acquisition), Fixed Charge Coverage Ratio ≥1.50x, Unsecured Interest Coverage Ratio ≥1.75x, and Unencumbered Leverage Ratio ≤60% (65% post-acquisition). These covenants provide flexibility for material acquisitions while maintaining lender protections.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 24, 2026 · How we verify