AAON Amends and Extends $30M Revolving Credit Facility

AAON, Inc. and its subsidiary AAON Coil Products, Inc. entered into an amendment to extend their $30 million revolving credit facility with BOKF, NA dba Bank of Oklahoma to July 27, 2018. The amendment also modifies financial covenants, eliminating the working capital requirement and increasing the tangible net worth covenant.

“On July 27, 2016 (the "Effective Date"), AAON, INC., an Oklahoma corporation, and AAON COIL PRODUCTS, INC., a Texas corporation, both wholly-owned subsidiaries of AAON, INC., a Nevada corporation (the "Company"), entered into Amendment Eleven to Third Restated Revolving Credit Loan Agreement (the "Amendment"), with BOKF, NA dba Bank of Oklahoma (the "Lender"). The Amendment provides for an extension of the $30 million revolving credit facility with the Lender from the Effective Date to July 27, 2018. Additionally, the Amendment eliminates the covenant requirement for the Company's working capital being at or above $40.0 million and modifies the Company's tangible net worth covenant requirement from $95.0 million to $125.0 million.”

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