DPC Holdings PLC filed a Form 8-K with the SEC on September 8, 2026, disclosing that on September 3, 2026, the company and certain subsidiaries entered into a new $325 million senior unsecured revolving credit facility with Barclays Bank PLC as administrative agent, while simultaneously repaying two existing secured borrowing facilities in full.

Key Highlights

  • New facility size: A $325 million senior unsecured revolving credit facility with multi-currency borrowing capability in U.S. Dollars, Euro, and Sterling.
  • Accordion option: An uncommitted accordion facility of up to $150 million is included in the Credit Agreement.
  • Maturity date: The facility matures on September 3, 2029, unless extended or earlier terminated in accordance with its terms.
  • Sub-facilities: The agreement includes a swingline sub-facility of up to $50 million and a letter of credit sub-facility capped at $50 million.
  • Prior debt repaid: The company repaid in full, including accrued interest, a senior secured term note loan facility and a senior secured asset backed lending facility with Wells Fargo.
  • Administrative agent: Barclays Bank PLC serves as administrative agent under the Credit Agreement, which was executed September 3, 2026.
  • Emerging growth company: DPC Holdings PLC has indicated it is an emerging growth company as defined under applicable SEC rules.

DPC Holdings Refinances Debt with Senior Unsecured Revolving Credit Facility

According to the filing, DPC Holdings PLC (NYSE:DPC), together with its subsidiaries Doncasters Limited and Doncasters Inc. as borrowers, entered into the Credit Agreement on September 3, 2026. The facility is senior unsecured and replaces two prior secured borrowing arrangements: a senior secured term note loan facility entered into in April 2024 and subsequently amended in April 2025, and a senior secured asset backed lending facility with Wells Fargo entered into in March 2020 and subsequently amended in August 2022. The company disclosed that remaining balances, including accrued interest, on both facilities were repaid in full at closing.

The filing states that interest on borrowings under the new facility is, at the borrowers' election, based on either a Term Benchmark or RFR rate for the relevant currency, including Term SOFR for U.S. Dollar borrowings, EURIBOR or EUR STR for Euro borrowings, and SONIA for Sterling borrowings, plus an applicable rate; or the Alternate Base Rate, defined as the highest of the Prime Rate, the NYFRB Rate plus 0.50%, or one-month Term SOFR plus 1.00%, plus an applicable rate. The applicable rate varies across six pricing levels tied to the company's total net leverage ratio and adjusts automatically upon delivery of required financial statements and compliance certificates.

The Credit Agreement, according to the filing, contains customary affirmative, negative, and financial covenants for an unsecured investment grade revolving credit facility, including reporting requirements and limitations on indebtedness, liens, certain mergers and asset sales, and changes in business. A separate Guarantee Agreement, also dated September 3, 2026, was entered into by the company and certain subsidiaries to guarantee the borrowers' obligations under the Credit Agreement. The filing noted that on September 8, 2026, the company issued a press release titled "Doncasters Completes Debt Refinancing," furnished as Exhibit 99.1.

What Was Disclosed

DPC Holdings PLC disclosed the execution of a $325 million senior unsecured revolving credit facility maturing September 3, 2029, the repayment in full of two prior secured facilities, the terms of an accompanying Guarantee Agreement, and an accompanying press release regarding the refinancing.