Sterling Infrastructure Secures $1.5 Billion Credit Facility Extension

The amended credit agreement replaces Sterling’s existing term loans and revolving facilities, signaling strong backing from a syndicate of national and regional financial institutions. Beyond the expanded volume, the terms include a 10-basis point reduction in the SOFR adjustment and lower overall pricing margins tied to the company’s net leverage ratio. The agreement also provides more flexible covenants and raises the incremental facility capacity to $500 million.

CFO Nick Grindstaff noted that the deal reflects lender confidence in the company’s long-term trajectory. Sterling plans to deploy the capital toward refinancing existing debt, funding capital expenditures, and pursuing strategic acquisitions. With this liquidity, the firm aims to bolster its position in the E-Infrastructure, Transportation, and Building Solutions markets, which currently serve high-demand sectors including data centers and semiconductor manufacturing.