Limbach Replaces $125M Credit Facility with $300M PNC-Led Package
LMB sits 22% above its 52-week low of $40.74.
Summary
Limbach replaced its $125M credit facility with a $300M PNC-led package, adding a term loan and delayed draw facility while repaying $118.1M of prior debt.
Key Events · Financing and Capital Events · LMB
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New $300M Credit Facility
Limbach entered into a $300M PNC-led credit agreement on September 9, 2026, replacing its prior $125M Wintrust facility.
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Facility Structure
The package includes a $200M revolver, a $50M term loan, and a $50M delayed draw term loan, with an accordion feature for up to $150M in additional commitments.
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Prior Debt Repaid
Limbach repaid approximately $118.1M of principal under the terminated Wintrust facility using proceeds from the new PNC facility.
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New Financial Covenants
The agreement requires a maximum Consolidated Net Leverage Ratio of 3.00x (expandable to 3.50x for qualifying acquisitions) and a minimum Consolidated Fixed Charge Coverage Ratio of 1.15x.
Analysis · LMB · Real Estate & Construction
Limbach replaced its $125 million Wintrust revolver with a $300 million PNC-led credit facility, more than doubling available committed capital. The new package includes a $200 million revolver, a $50 million term loan, and a $50 million delayed draw term loan, with an accordion feature allowing up to $150 million more. The company repaid approximately $118.1 million of outstanding principal under the old facility. This follows a period of aggressive acquisition activity — the $30 million CYMCOR deal in August and the $63 million 1901 Inc. acquisition in September — and provides the balance-sheet capacity to continue that strategy. The new covenants (3.00x net leverage, expandable to 3.50x for qualifying acquisitions) give Limbach meaningful headroom relative to its recent EBITDA trajectory, though the company did cut full-year guidance in August.
How filings like this one have moved
In the 30 days to Sep 14, 2026, 29.9% of the 1594 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.24%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, LMB was trading at $49.54 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $590.8M. The 52-week trading range was $40.74 to $114.95. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.