Malibu Boats borrows $98.8 million under revolving credit facility

By Sara Rosenberg

New York, March 24 – Malibu Boats Inc. drew the remaining available funds of $98.8 million from its revolving credit facility due July 1, 2024 to ensure it maintains financial flexibility in light of the current uncertainty in the global markets resulting from the Covid-19 pandemic, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.

The notice of borrowing was provided to lenders on March 19.

The funds may be used for working capital and general corporate purposes.

Pricing on the revolver is Libor plus 125 basis points.

Truist Financial Corp. (formerly known as SunTrust Bank) is the administrative agent on the revolver.

Malibu Boats is a Loudon, Tenn.-based designer, manufacturer and marketer of performance sport boats.

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