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Power - material definitive agreement entry
Powerfleet ("PWFL") has filed a Form 8-K with the U.S. Securities and Exchange Commission, announcing amendments to its Facilities Agreement with FirstRand Bank Ltd. ("RMB"). The company, along with its subsidiaries, has extended the maturity of its USD42.5 million Term A Facility to March 31, 2028, and updated interest rates and financial covenants. The ratio of net borrowings to EBITDA must now be below 2.50 from June 30, 2027, while the EBITDA to finance costs ratio must exceed 3.50. These amendments align the covenants with Powerfleet’s other debt agreements. The company is listed on Nasdaq and the JSE.
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