AMSTED Refinances $1.4 Billion Credit Facilities

AMSTED Industries, a private company owned through an employee stock ownership plan, successfully executed a series of complex refinancing transactions. Guided by legal counsel from Ropes & Gray, AMSTED issued $500 million in 6.375% senior notes due in 2033, refinanced its existing $1.4 billion credit facility, and extended a $225 million accounts receivable securitization facility. These moves were part of a strategic effort to optimize AMSTED's financial structure by addressing its outstanding 5.625% senior notes maturing in 2027. The transactions not only reflect AMSTED's proactive approach to debt management but also demonstrate its focus on maintaining strong market positions across its four business segments. The notes offering and tender offer were finalized on March 6, 2025, while the credit facility and AR securitization facility were completed earlier, providing AMSTED with greater leverage flexibility.