ELKHART, Ind., Aug. 15, 2022 /PRNewswire/ — Patrick Industries, Inc. (NASDAQ: PATK) (“Patrick” or the “Firm”) as we speak introduced that on August 11, 2022, the Firm amended its credit score settlement to broaden its present senior secured credit score facility to $925 million from $700 million. The expanded credit score facility is comprised of a $775 million revolving credit score facility and a $150 million time period mortgage. The maturity date for borrowings below the credit score settlement was prolonged to August 2027 from April 2026. As well as, base rates of interest for borrowings below the credit score settlement had been modified to the Secured In a single day Financing Fee (SOFR) from LIBOR. Different materials provisions remained unchanged.

“We’re excited to shut the enlargement and maturity extension of our credit score facility, bolstering our already nimble and versatile posture whereas reinforcing our means to execute on our enterprise technique,” stated Andy Nemeth, Chief Government Officer of Patrick. “Our credit score facility is offered by a world-class group of economic establishments, and we respect their help and partnership as we proceed to develop and diversify our enterprise and drive shareholder worth.”

About Patrick Industries, Inc.

Patrick Industries (NASDAQ: PATK) is a number one part options supplier for the Leisure Way of life and Housing markets. Based in 1959, Patrick relies in Elkhart, Indiana, with over 12,000 workers throughout the US.

Cautionary Assertion Relating to Ahead-Wanting Statements

This press launch accommodates sure statements associated to future outcomes, our intentions, beliefs and expectations or predictions for the longer term, that are forward-looking statements as that time period is outlined within the Personal Securities Litigation Reform Act of 1995. Any projections of economic efficiency or statements regarding expectations as to future developments shouldn’t be construed in any method as a assure that such outcomes or developments will, actually, happen. There might be no assurance that any forward-looking assertion can be realized or that precise outcomes won’t be considerably completely different from that set forth in such forward-looking assertion. Details about sure dangers that would have an effect on our enterprise and trigger precise outcomes to vary from these expressed or implied within the forward-looking statements are contained within the part entitled “Threat Components” within the Firm’s Annual Report on Kind 10-Ok for the 12 months ended December 31, 2021, and within the Firm’s Types 10-Q for subsequent quarterly durations, that are filed with the Securities and Alternate Fee (“SEC”) and can be found on the SEC’s web site at www.sec.gov. Every forward-looking assertion speaks solely as of the date of this press launch, and we undertake no obligation to replace any forward-looking assertion to mirror occasions or circumstances occurring after the date on which it’s made.

SOURCE Patrick Industries, Inc.