Great Lakes Dredge & Dock Corporation has amended its existing Revolving Credit Facility, increasing the facility by $100 million to a total of $430 million and extending its maturity to October 2030. The company used the expanded credit facility to fully repay $100 million in second lien notes issued in 2024. This move is expected to save the company an estimated $6 million per year in interest, with no debt maturities until 2029 and a weighted average interest rate under 6%. The amendment reflects the continued confidence of the company's lending partners and strengthens Great Lakes' financial flexibility.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Great Lakes Dredge & Dock Corporation published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9562844-en) on October 27, 2025, and is solely responsible for the information contained therein.