MUELLER INDUSTRIES INC 8-K

What Happened

• Mueller Industries Inc. announced on March 27, 2026 that it entered into a new Credit Agreement with Bank of America, N.A. acting as administrative agent, lender, swing line lender and letter of credit issuer.
• The agreement replaces the company's prior credit agreement (dated March 31, 2021) and provides an unsecured $100 million revolving credit facility for working capital and general corporate purposes, maturing March 27, 2031.

Key Details

• Facility size & type: $100 million unsecured revolving credit facility.
• Maturity: March 27, 2031.
• Sublimits: $50 million for letters of credit; $35 million for foreign-currency loans/letters of credit; $25 million swing line sublimit. Outstanding LCs and foreign-currency loans reduce availability dollar-for-dollar.
• Pricing & fees: Borrowings priced at either a Benchmark Rate (e.g., Term SOFR for USD, Term CORRA for CAD) or a Base Rate, plus an applicable margin of 112.5–162.5 bps over Benchmark or 12.5–62.5 bps over Base Rate. Commitment fee on unused commitments of 15–30 bps per annum. Letter-of-credit fees include an annual fee equal to the applicable margin.
• Other terms: Company must meet customary financial covenants and affirmative/negative covenants; obligations are guaranteed by certain domestic wholly-owned subsidiaries. Bank of America is a lender and agent; no other material relationships disclosed.

Why It Matters

• The new facility secures medium-term liquidity (through March 2031) and replaces the prior credit arrangement, giving Mueller Industries a committed, unsecured source of working capital and flexibility for general corporate needs.
• Size, sublimits and pricing give investors a clear view of available borrowing capacity, potential interest cost exposure tied to market rates (Term SOFR/CORRA or Base Rate), and fees that can affect net borrowing costs. Compliance with financial covenants remains a condition for access to the facility.