NYSE:AWIBuilding
Did Armstrong’s $911 Million Leverage‑Linked Refi Just Shift Armstrong World Industries' (AWI) Investment Narrative?
Armstrong World Industries recently amended its credit agreement, putting in place new credit facilities totaling US$910.63 million, including a US$500.00 million revolving credit facility and a US$410.63 million term loan that both mature in 2030, while repaying all debt under its prior agreement.
A key feature of this refinancing is that interest costs are now tied to Armstrong’s leverage ratio, potentially rewarding a stronger balance sheet with lower borrowing rates and greater financial...