AAON, a company in energy-efficient HVAC solutions, exercised the accordion feature on its existing revolving credit facility, increasing the company’s available borrowing capacity to $600 million. This strategic move provides additional financial flexibility to meet accelerating customer demand and support ongoing growth initiatives.
“Our business continues to experience strong momentum with bookings strength continuing throughout the fourth quarter, driven by robust market conditions and expanding customer needs,” Rebecca Thompson, chief financial officer and treasurer of AAON, said. “Activating the accordion feature ensures we have ample liquidity to invest in growth and respond to demand, while maintaining a disciplined capital structure.”
The accordion feature, negotiated as part of the company’s credit agreement, allows the Company to expand its borrowing limit without renegotiating the entire facility. This increase strengthens the company’s ability to fund working capital, capital expenditures and strategic projects aligned with its long-term growth objectives.
