MasterBrand, Inc. 8-K

What Happened

• MasterBrand, Inc. filed an 8-K on March 26, 2026 announcing a Second Amendment to its Amended and Restated Credit Agreement (originally dated June 27, 2024 and previously amended Nov 3, 2025). The amendment was entered with JPMorgan Chase Bank, N.A. as administrative agent and the lenders party to the credit agreement.
• The Second Amendment adds a new pricing category affecting the margin over the base reference rate for loans and changes the threshold for the net leverage ratio and the minimum interest coverage ratio. These covenant threshold changes apply until the earlier of January 1, 2027 or the date MasterBrand’s merger with American Woodmark Corporation becomes effective.
• Outside of the specific pricing and covenant-threshold changes described above, the company stated the amendment did not result in material changes to the existing representations and warranties, affirmative covenants, or restrictive covenants.

Key Details

• Amendment effective date: March 26, 2026.
• Credit agreement originally dated: June 27, 2024 (first amended Nov 3, 2025).
• Temporary covenant change duration: until earlier of Jan 1, 2027 or effective date of MasterBrand’s merger with American Woodmark Corporation.
• Exhibit included: Second Amendment filed as Exhibit 10.1 to the 8-K.

Why It Matters

• For investors, this affects MasterBrand’s borrowing terms and covenant tests — the filing changes how interest margins are set and temporarily adjusts leverage/coverage thresholds, which can influence near-term liquidity and financing cost management.
• The amendment is tied to the company’s anticipated merger timeline with American Woodmark; the modified covenant thresholds expire on a fixed date or when the merger becomes effective, so these terms are material to assessing financing risk during the pre-merger period.
• The full Second Amendment is attached to the 8-K (Exhibit 10.1) for investors who want the precise legal and financial language.