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Get filing alertsMalibu Boats refinances credit facility with $100M term loan, extends maturity to 2031
Filed July 13, 2026 · Period ending July 10, 2026 · ~1 min read
Key Changes
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Refinanced credit facility with $250M revolver and new $100M term loan (borrowed in full at closing), replacing prior $350M revolver; maturity extended from July 2027 to July 2031.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Interest rates range from SOFR plus 1.25%-2.00% or Base Rate plus 0.25%-1.00%, with margin determined by leverage ratio; borrower can choose among SOFR, Base Rate, or alternative currency rates.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Accordion feature allows up to $100M additional capacity, plus unlimited amounts if leverage ratio stays at or below 2.50:1.00, subject to lender approval.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Facility requires maintenance of minimum interest coverage ratio (EBITDA to interest expense) and maximum leverage ratio (total debt to EBITDA).
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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Borrowed full $100M term loan at closing and used proceeds to pay down revolver, leaving $65M outstanding on revolving facility.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
Summary
Malibu Boats refinanced its credit facility on July 10, 2026, replacing its prior $350 million revolving facility with a new structure consisting of a $250 million revolver and a $100 million term loan. The company borrowed the full term loan amount at closing and used the proceeds to pay down the revolver, leaving $65 million outstanding on the revolving facility.
The maturity date was extended from July 2027 to July 2031, providing four additional years before refinancing is required. The new facility uses SOFR-based pricing with margins ranging from 1.25% to 2.00% for SOFR loans, determined by the company's leverage ratio. The agreement includes standard financial covenants requiring minimum interest coverage and maximum leverage ratios.
An accordion feature allows Malibu to request up to $100 million in additional capacity, plus unlimited amounts if leverage stays at or below 2.50:1.00, subject to lender approval. For retail holders, this refinancing reduces near-term refinancing risk and provides flexibility for future growth or acquisition financing through the accordion feature.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 also reports this as a direct financial obligation (body incorporates the primary Item by reference).
Added in current filing · verify on EDGAR →
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.
The company also filed this under Item 2.03, which means it is reporting the arrangement as a direct financial obligation. The Item 2.03 text refers back to the Item 1.01 entry for the terms rather than restating them.
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 →
On July 10, 2026, Malibu Boats, LLC as the borrower (the “Borrower”), a wholly owned indirect subsidiary of the Malibu Boats, Inc., a Delaware corporation (the “Company”), entered into a Fourth Amended and Restated Credit Agreement (the “Credit Agreement”) to its existing third amended and restated credit agreement dated as of July 8, 2022 (the “Existing Credit Agreement”), by and among the Borrower, Malibu Boats Holdings, LLC, parent of the Borrower and a wholly owned subsidiary of the Company (the “LLC”), and certain subsidiaries of the Borrower parties thereto, as guarantors (together with Borrower and LLC, collectively, the “Loan Parties”), the lenders parties thereto, and Truist Bank, as administrative agent (the “Administrative Agent”), swingline lender and issuing bank. The Credit Agreement provides the Borrower a revolving credit facility in an aggregate principal amount of up to $250.0 million and a term loan facility in an aggregate principal amount of up to $100.0 million, each with a maturity date of July 10, 2031.
Malibu Boats refinanced its existing credit agreement with a new facility consisting of a $250 million revolving credit line and a $100 million term loan, both maturing in five years on July 10, 2031. The company borrowed the full $100 million term loan at closing and used the proceeds to pay down the revolver, leaving $65 million outstanding on the revolving facility.
Added in current filing · verify on EDGAR →
The Credit Agreement also requires compliance with certain customary financial covenants consisting of a minimum ratio of EBITDA to interest expense and a maximum ratio of total debt to EBITDA.
The new facility requires Malibu to maintain two financial covenants: a minimum interest coverage ratio (EBITDA to interest expense) and a maximum leverage ratio (total debt to EBITDA). These are standard maintenance covenants that the company must meet on an ongoing basis to remain in compliance.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
its subsidiary Malibu Boats, LLC entering into a new agreement with Truist Bank, as administrative agent, on July 10, 2026 that replaces its prior agreement, dated July 8, 2022.
Malibu Boats refinanced its credit facility on July 10, 2026, replacing the prior agreement from July 8, 2022. The new agreement is with Truist Bank as administrative agent.
Added in current filing · view on EDGAR →
The maturity date of the credit facility has been extended from July 2027 to July 2031.
The maturity date of the credit facility has been extended from July 2027 to July 2031, providing the company with four additional years before refinancing or repayment is required. This reduces near-term refinancing risk.
Added in current filing · view on EDGAR →
The Company retains the ability to request incremental term or revolving commitments, providing continued flexibility to support future growth.
The company retains the ability to request additional term or revolving commitments beyond the current facilities, providing flexibility to support future growth initiatives or capital needs.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 20, 2026 · How we verify