Graham Corporation announced that it has successfully closed on a new, five-year $50 million senior secured revolving credit facility with Wells Fargo Bank N.A. of which $35 million is immediately available. The Company will use the proceeds from the facility and cash on hand to pay down the remaining $11.5 million balance of its term loan and the $725,000 exit fee from its previous lending agreement amendments. The new facility will reduce current borrowing rates by approximately 25 basis points to SOFR plus 1.25%.

The additional $15 million of the facility automatically becomes available after the Company achieves three consecutive quarters of trailing twelve month adjusted EBITDA of $15 million and minimum liquidity of $7.5 million as defined in the credit agreement.