Daily News: December 3, 2018

Fifth Third Downsizes Limbach Revolver to $22.5MM

Fifth Third Bank acted as administrative agent, lender and L/C issuer on an amendment to Limbach Holdings’ revolving credit facility, reducing the lenders’ commitments from $25 million to $22.5 million.

The lenders also agreed to a waiver of Limbach’s previously disclosed non-compliance with the senior leverage and fixed charge coverage ratio requirements under its existing credit agreement.

Additionally, the amendment will further reduce the revolver commitments to $20 million on January 31, 2019, accelerate the maturity date for the revolver and the credit agreement term loan from July 20, 2021 to March 31, 2020, and require that certain actions be taken in connection with refinancing of the company’s obligations under the agreement by certain scheduled dates.

Founded in 1901, Limbach is the 9th largest mechanical systems solutions firm in the United States. It provides building infrastructure services, including the design, installation and maintenance of HVAC and mechanical, electrical, and plumbing systems, for a diversified group of commercial and institutional building owners.