Sterling Infrastructure, Inc. announced that it requested and received an amendment to its 2019 credit agreement that extends the maturity of the credit facility by 18-months to April of 2026. The size, economics and covenants of the amended credit agreement are substantially unchanged. The $425 million credit facility under the amended credit agreement consists of a $350 million term loan and a $75 million revolving credit facility.

As of September 30, 2023, $347.4 million in borrowings were outstanding under the term loan, the revolving credit facility was undrawn and cash and cash equivalents totaled $409.4 million. The credit agreement amendment was led by BMO Capital Markets Corp., as Joint Lead Arranger and Joint Book Runner, and BMO Bank N.A., as Administrative Agent.