Debt |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2026 | |||
| Debt [Abstract] | |||
| Debt |
On March 27,
2026, the Company issued €65 million of Euro-denominated senior notes under the Amended and Restated Consolidated Note Purchase and Master Note Agreement, maturing in
and bearing an interest rate of 4.00%. The
proceeds were used to repay a portion of the Company’s existing revolving credit facility.
On June 18, 2026, the Company entered into a
Credit Agreement (Credit Agreement) with CoBank, ACB, and the lenders party thereto from time to time. The Credit Agreement provides for an unsecured delayed-draw term loan credit facility (Term Loan) in the aggregate principal amount of up to $400 million, which is to be drawn in up to five
advances over fifteen months following the closing date. All amounts owing under the Term Loan will be due five years from the closing date. Proceeds from the Credit Agreement will be used to refinance existing indebtedness and for working capital and other
general corporate purposes. There were no draws made on the Term Loan as of June 30, 2026.
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