DPC Holdings PLC Completes $325M Revolving Credit Facility

What Happened
DPC Holdings PLC announced it entered into a Credit Agreement on September 3, 2026, providing a $325 million senior unsecured revolving credit facility with multi‑currency borrowing (USD, EUR, GBP). The facility matures on the earlier of September 3, 2029 or termination of commitments and includes an uncommitted accordion option of up to $150 million. The Company furnished a press release titled “Doncasters Completes Debt Refinancing” on September 8, 2026.

Key Details

• $325 million senior unsecured revolving credit facility (multi‑currency: USD, Euro, Sterling).
• Uncommitted accordion capacity up to $150 million.
• Maturity: earlier of September 3, 2029 or termination of commitments.
• Interest: Borrowings at either a Term Benchmark/RFR for the currency (e.g., Term SOFR, EURIBOR/€STR, SONIA) plus a margin, or an Alternate Base Rate plus a margin; margin varies across six pricing levels tied to the Company’s total net leverage ratio.
• Sub‑facilities: $50 million aggregate swingline (USD) and $50 million letter of credit sub‑cap.
• Guarantees: DPC Holdings PLC and certain subsidiaries entered a Guarantee Agreement to guarantee Borrowers’ obligations; guarantees cover all amounts owed under the facility until repayment/termination (subject to customary legal limits).
• Refinancing action: Proceeds were used to repay in full (including accrued interest) two prior secured borrowings — a senior secured term note facility (originally April 2024, amended April 2025) and a senior secured asset‑backed lending facility with Wells Fargo (originally March 2020, amended August 2022).

Why It Matters
This transaction provides DPC with a sizable, unsecured revolving credit line and additional optional capacity, improving short‑term liquidity flexibility and multi‑currency borrowing capability. Replacing the prior secured facilities may reduce secured borrowing on the company’s balance sheet (the prior facilities were repaid in full). The cost of borrowing under the new facility will vary with market reference rates and the company’s leverage (pricing tiers), and the guarantees mean parent and certain subsidiaries remain contractually responsible until obligations are repaid.