Southland amends credit agreement with sureties, cuts interest rate to 4%

Reuters2026/08/13 11:06

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Southland entered a Financial Assistance Agreement with surety partners, retroactive to Oct. 1, 2025, covering financing support for bonded projects.
Bonding Surety Financing totaled USD 58.97 million as of June 30, 2026; it accrues 4% annual interest, capitalized each year.
Non-Bonding Financing stood at USD 150.86 million; the company expects to convert that amount into senior non-voting preferred shares by Sept. 30.
A second amendment to the credit agreement cut the loan rate to 4% from a prior floating rate; interest will accrue as paid-in-kind.
The amendment also suspended quarterly amortization, early termination premium payments, and key maintenance covenants, subject to default-related reversion triggers.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Southland Holdings Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202608130705BIZWIRE_USPR_____20260812_BW406490) on August 13, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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华尔街见闻•2026/09/12 04:41