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Get filing alertsUniversal Corp amends credit agreement to relax leverage covenant through June 2027
Filed October 13, 2026 · Period ending October 9, 2026 · ~1 min read
Key Changes
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Maximum total net leverage ratio temporarily raised from 3.00x to 3.75x for quarters ending Sept 30 and Dec 31, 2026, then steps down to 3.25x for March 31, 2027, before returning to 3.00x from June 30, 2027.
Item 1.01 verify on EDGAR → -
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Amendment No. 1 to the credit agreement dated December 9, 2025 was entered into on October 9, 2026, with JPMorgan Chase Bank, N.A. as administrative agent.
Item 1.01 verify on EDGAR →
Summary
Universal Corporation amended its existing credit agreement to temporarily relax its total net leverage ratio covenant. The maximum ratio increases from 3.00x to 3.75x for the fiscal quarters ending September 30 and December 31, 2026, then steps down to 3.25x for the quarter ending March 31, 2027, before returning to 3.00x from June 30, 2027 onward. The amendment was signed on October 9, 2026, with JPMorgan Chase Bank, N.A. as administrative agent.
For retail investors, this change provides the company with additional borrowing headroom in the near term, which may help it manage seasonal working capital needs or other liquidity requirements. The covenant reverts to its original level by mid-2027, suggesting the relaxation is temporary rather than a permanent loosening of credit standards. No other material terms of the credit agreement were disclosed as modified.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 14, 2026 · How we verify