Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 652

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 7
Chunk 652
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, respectively for the years ended  June 30, 2025, 2024, and 2023.

       44

   At  June 30, 2025, aggregate amortization expense is estimated to be (in thousands):

     2026  $18,200 
 2027   17,454 
 2028   15,726 
 2029   15,595 
 2030   15,472 
 Thereafter   83,569 
 Total  $166,016 

   8. Debt
    
   Long-term debt is comprised of the following at  June 30 (in thousands):

       2025    2024  
 Bank credit agreements  $553,203  $150,000 
 Total funded debt   553,203   150,000 
 Issuance cost   (688)  (1,124)
 Total long-term debt  $552,515  $148,876 

   The Company's long-term debt matures in  February 2028. 
    
   During the third quarter of fiscal year 2023, the Company entered into a Third Amended & Restated Credit Agreement which renewed the existing Credit Agreement for an additional five-year period (“Credit Facility”, or “facility”). The facility had a borrowing limit of $500 million, which could be increased by an amount of up to $250 million, in accordance with specified conditions contained in the agreement. The facility also included a $10 million sublimit for swing line loans and a $35 million sublimit for letters of credit.
    
   During the second quarter of fiscal year 2025, the Company entered into a $250 million 364-day term loan with existing lenders. Also during the period, the Company converted the 364-day term loan into an exercise of the accordion feature under its existing facilities. In connection with the conversion of the loan, the Company entered into a Second Amendment to Third Amended and Restated Credit Agreement. This amendment expanded the total available credit under the Revolving Credit Agreement from $500 million to $825 million. Under the terms of the Credit Agreement, the Company pays a variable rate of interest and a commitment fee on borrowed amounts as well as a commitment fee on unused amounts under the facility.  The amount of the commitment fee depends upon both the undrawn amount remaining available under the