The refinancing removes near-term maturity risk and provides liquidity runway through 2031. Monitor upcoming quarterly filings for the consolidated leverage ratio and interest coverage ratio to assess covenant headroom and the impact of term loan amortization.
Price Chart
Executive Summary
Malibu Boats refinanced its credit facility, replacing a $350M revolving facility with a $250M revolver and a new $100M term loan, both maturing July 10, 2031 (extended from July 2027). The full $100M term loan was drawn at closing to repay revolver borrowings, leaving $65M outstanding on the revolver. The refinancing extends maturity by four years and adds incremental capacity, but introduces term loan amortization.
Key Facts
- New $250M revolving credit facility and $100M term loan facility, both maturing July 10, 2031
- Full $100M term loan drawn at closing; proceeds used to repay revolver, leaving $65M outstanding
- Maturity extended from July 2027 to July 2031
- Incremental capacity of up to $100M plus additional amounts subject to leverage test
- Pricing grid based on consolidated leverage ratio: SOFR margin 1.25%-2.00%, commitment fee 0.15%-0.30%
Financial Impact
Refinancing of $350M aggregate credit facilities; $100M term loan drawn; $65M revolver outstanding post-closing
Risk Factors
- Term loan amortization begins September 30, 2026 with $1.25M quarterly payments
- Financial covenants (interest coverage ≥3.00x, leverage ≤3.00x) may constrain flexibility if earnings decline
- Reduced revolver capacity from $350M to $250M limits borrowing base
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001590976-26-000029 |
| Document: malibuboatsfourthsecurit.htm | 0001590976-26-000029 |
| Document: mbuu-20260710.htm | 0001590976-26-000029 |
| Document: mbuu-creditagreementamendm.htm | 0001590976-26-000029 |
| Document: 0001590976-26-000029-index-headers.html | 0001590976-26-000029 |
| Document: 0001590976-26-000029-index.html | 0001590976-26-000029 |
| Document: 0001590976-26-000029.txt | 0001590976-26-000029 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | SC 13G/A | $22.03 $21.87 | ▲ +0.73% | ▲ +1.44% | $22.48 (−2.02%) |
Oct 22, 2026 5d ago | Press Release | $22.66 $22.03 | ▼ −2.78% | ▼ −2.26% | $22.48 (−0.82%) |
Sep 9, 2026 6w ago | EFFECT | $25.86 $25.06 | ▼ −3.09% | ▼ −2.49% | $22.48 (−13.09%) |
Aug 28, 2026 8w ago | S-3 | $27.36 $26.96 | ▼ −1.46% | ▼ −1.16% | $22.48 (−17.85%) |
Aug 28, 2026 8w ago | 8-K | $27.36 $26.96 | ▼ −1.46% | ▼ −1.16% | $22.48 (−17.85%) |
Aug 24, 2026 9w ago | 8-K | $29.47 $28.46 | ▼ −3.43% | ▼ −3.75% | $22.48 (−23.74%) |
Aug 14, 2026 10w ago | Press Release | $29.41 $29.33 | ▼ −0.27% | ▲ +0.40% | $22.48 (−23.58%) |
Jul 13, 2026 15w ago | 8-K | $26.77 $26.67 | ▼ −0.37% | ▼ −0.73% | $22.48 (−16.04%) |
Mar 2, 2026 34w ago | Press Release | $27.37 $26.98 | ▼ −1.42% | ▼ −0.51% | $22.48 (−17.88%) |
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