MALIBU BOATS, INC. 8-K

What Happened
Malibu Boats, Inc. (through its indirect subsidiary Malibu Boats, LLC) announced on July 10, 2026 that the borrower entered into a Fourth Amended and Restated Credit Agreement with Truist Bank as administrative agent and a syndicate of lenders. The agreement provides a $250.0 million revolving credit facility and a $100.0 million term loan facility, both maturing July 10, 2031. Malibu Boats, LLC borrowed the full $100.0 million term loan at closing and used the net proceeds to pay down the revolving facility; following that repayment the borrower had $65.0 million outstanding on the revolver.

Key Details

• Term loan borrowed at closing: $100.0 million (July 10, 2026).
• Revolving facility capacity: up to $250.0 million; $65.0 million outstanding after closing.
• Incremental capacity: option to seek up to an additional $100.0 million (plus certain additional amounts) if consolidated leverage ratio ≤ 2.50:1.00 and lenders choose to provide commitments.
• Maturity date for both facilities: July 10, 2031.
• Pricing: borrower’s choice of Base Rate (prime/Fed funds/1‑month Term SOFR) or SOFR/alternative rates, plus a margin that varies by leverage (SOFR/alt: 1.25%–2.00%; Base Rate: 0.25%–1.00%).
• Commitment fee on unused revolver: 0.15%–0.30% per annum, based on leverage.
• Security and guarantees: loans are guaranteed by Malibu Boats Holdings, LLC and substantially all present and future subsidiary guarantors and secured by substantially all assets under a Fourth Amended and Restated Security Agreement. The parent company (Malibu Boats, Inc.) is not a party to the Credit Agreement.
• Financial covenants: customary leverage and interest-coverage style covenants (ratios of EBITDA to interest and total debt to EBITDA).
• Remedies: customary events of default, including lender rights to accelerate or stop funding if defaults are not cured.

Why It Matters
This filing shows Malibu’s operating subsidiaries have restructured and extended their bank financing through mid-2031 and drew a $100M term loan while reducing revolver borrowings — a move that affects liquidity and debt mix. The agreement sets available committed liquidity (up to $250M revolver, plus potential incremental capacity) and establishes interest costs and covenant tests that investors should monitor, since covenant levels and borrowing costs can affect financial flexibility and cash available for operations, dividends, or buybacks. The Company also furnished a press release (Exhibit 99.1) announcing the credit agreement.