OneWater Marine executed amendments to extend the maturities of its senior secured term loan facility and its floor plan financing facility. Specifically:
- The company extended the maturity of its senior secured term loan facility by one year to July 31, 2027.
- The company also extended its floor plan credit facility by one year to March 1, 2027. The facility provides inventory financing capacity of up to $497 million with an additional $38 million of overtrade capacity.
- These extended facilities provide the company with continued access to capital and flexibility to support its growth initiatives, manage working capital and pursue strategic acquisitions within the marine retail and aftermarket space.
“Extending both our term loan and inventory financing facilities underscores OneWater’s financial strength and our bank group partners’ confidence in our strategy,” Jack Ezzell, chief operating officer and chief financial officer of OneWater, said. “These amendments allow us to maintain our capital structure flexibility to invest in our dealership network, expand our offerings and drive growth.”
The senior secured term loan financing was led by Truist Bank and the floor plan financing was led by Wells Fargo. Both facilities remain subject to customary financial and non-financial covenants.
