GREENBRIER COMPANIES INC 8-K

What Happened
On May 5, 2026, The Greenbrier Companies, Inc. amended its borrowing arrangements with Bank of America, N.A. and lenders. Greenbrier entered into a Sixth Amendment to its Fourth Amended and Restated Credit Agreement removing the “SOFR Adjustment” for Term SOFR-based interest. A wholly owned subsidiary, Greenbrier Leasing Company LLC (GLC), entered a Third Amendment that refinanced existing term loans into a $300 million Amended Term Loan and established a Delayed Draw Term Loan Facility of up to $125 million. The Amended Term Loan and any Delayed Draw Term Loans carry the same interest rate as the prior term loans and mature May 5, 2032; the delayed‑draw facility has a six‑month availability period and is subject to conditions. Proceeds are for general corporate purposes, including expanding GLC’s leasing fleet. Greenbrier also furnished a press release announcing the new term loans.

Key Details

• Effective date: May 5, 2026; Administrative/Term Agent: Bank of America, N.A.
• Amended Term Loan outstanding on the Effective Date: $300,000,000.
• Delayed Draw Term Loan Facility: up to $125,000,000; availability period: 6 months from May 5, 2026; commitment fee on undrawn portion.
• Maturity date for Amended Term Loan and Delayed Draw Term Loans: May 5, 2032.
• Sixth Amendment: removes the “SOFR Adjustment” for loans referencing Term SOFR.
• Press release dated May 5, 2026 was furnished as Exhibit 99.1 to the 8‑K.

Why It Matters
These amendments change Greenbrier’s debt terms and liquidity profile. The refinancing locks a $300M term loan and creates up to $125M in additional borrowing capacity (subject to conditions), which the company can use for general corporate needs and to expand its leasing fleet. Changes to the SOFR adjustment and the existence of a commitment fee on the delayed‑draw facility affect how interest expense and borrowing costs are calculated going forward. The filing notifies investors of a material financing action and a new direct financial obligation.