Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when SGC files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsSuperior Group refinances credit facilities, extends maturity to 2031 with $200M package
Filed August 11, 2026 · Period ending August 7, 2026 · ~1 min read
Key Changes
-
high
Entered $200M senior secured credit package ($125M revolver + $75M term loan) at SOFR+1.125%-2.125%, extending maturity from Aug 2027 to Aug 2031; retains $75M incremental capacity option.
Item 1.01 verify on EDGAR → -
high
Terminated prior PNC credit facility and repaid $85.25M in outstanding debt ($29M revolver + $56.25M term loans) with no early termination penalties.
Item 1.02 verify on EDGAR → -
medium
New facilities secured by substantially all operating assets with domestic subsidiary guarantees; must maintain 1.25x fixed charge coverage and max 4.0x net leverage ratio.
Item 1.01 verify on EDGAR → -
low
Revolver carries quarterly commitment fees of 0.125%-0.250% on unused capacity, tied to leverage ratio.
Item 1.01 verify on EDGAR →
Summary
Superior Group refinanced its credit facilities with a new $200 million senior secured package consisting of a $125 million revolving credit facility and a $75 million term loan. The refinancing extends the company's debt maturity by four years, from August 2027 to August 2031, while maintaining the same facility size and $75 million incremental capacity option as the prior agreement.
The company terminated its existing PNC credit facility and repaid approximately $85.25 million in outstanding debt without incurring early termination penalties. The new facilities carry variable interest at SOFR plus 1.125% to 2.125%, with the margin tied to Superior Group's consolidated net leverage ratio. The company must maintain a minimum 1.25x fixed charge coverage ratio and keep net leverage at or below 4.0x.
The facilities are secured by substantially all operating assets with guarantees from domestic subsidiaries. Management emphasized the refinancing provides a five-year runway to support capital allocation and pursue growth across business segments. For holders, the extended maturity reduces near-term refinancing risk and provides visibility into the company's debt structure through 2031.
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. As described in Item 1.01, on August 7, 2026, the Company and its domestic subsidiaries entered into the A&R Credit Agreement with the Lenders and the A
The 8-K includes a labeled Item 2.03 section. Its body incorporates the primary Item (typically 1.01) by reference rather than restating terms — do not treat that thinness as 'Item 2.03 absent.' The company is signaling creation of a direct financial obligation alongside the agreement disclosure; keep Item 2.03 visible in the report.
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 A&R Credit Facilities will accrue interest at a variable rate equal to the secured overnight financing rate (“SOFR”) plus a margin of between 1.125% and 2.125% (depending on the Company’s consolidated total net leverage ratio). During the term of the revolving credit facility, the Company will pay, on a quarterly basis, a commitment fee on the unused portion of the revolving credit facility equal to between 0.125% and 0.250% (depending on the Company’s consolidated total net leverage ratio).
The new facilities carry variable interest at SOFR plus 1.125% to 2.125%, with the margin tied to the company's leverage ratio. The revolver also requires quarterly commitment fees of 0.125% to 0.250% on unused capacity, also leverage-dependent.
Added in current filing · verify on EDGAR →
The A&R Credit Facilities are secured by substantially all of the operating assets of the Company as collateral, and the Company’s obligations under the A&R Credit Facilities are guaranteed by all of its domestic subsidiaries.
The facilities are secured by substantially all of Superior Group's operating assets, with guarantees from all domestic subsidiaries. This provides lenders with broad collateral coverage but limits the company's flexibility to pledge assets for other purposes.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The proceeds of the A&R Credit Facilities were used in part to refinance the Company’s existing indebtedness with PNC Bank, National Association and the other lenders under the Credit Agreement dated as of August 23, 2022
The new facilities refinanced Superior Group's existing credit agreement with PNC Bank from August 2022. The filing does not disclose the terms of the prior agreement or specify other uses of proceeds beyond the refinancing.
Event · Item 1.02 — Termination of a Material Definitive Agreement
Item 1.02 — Termination of a Material Definitive Agreement filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
The Company did not incur any termination penalties in connection with the early termination of the Original PNC Credit Agreement.
The company confirmed it paid no penalties for early termination of the credit facility, indicating the refinancing was executed without additional costs beyond the debt repayment itself.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
“With $200 million of committed capacity and a five-year runway, we have the flexibility to support our capital allocation strategy and pursue disciplined growth across our segments,” said Michael Koempel, President and Chief Financial Officer.
Management highlighted that the extended facilities provide flexibility to support the company's capital allocation strategy and pursue growth initiatives across its business segments. The CFO expressed appreciation for the banking partners' confidence in extending the facilities with supportive terms.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Aug 12, 2026 · How we verify