Five-year facility increases liquidity, enhances financial flexibility and supports long-term growth initiatives
LANCASTER, Pa., August 6, 2026 /PRNewswire/ — Burnham Holdings, Inc. (OTC-Pink: BURCA) (“BHI”, the “Company”, “we” or “our”), the parent company to leading domestic manufacturers of boilers and related HVAC products and accessories, today announced the successful closing of a new five-year revolving credit facility that strengthens the Company’s capital structure, enhances financial flexibility and supports its growth strategy. The syndicated facility is financed through Wells Fargo Bank, N.A. and Fulton Bank, N.A.
The new five-year revolving credit facility replaces the Company’s existing facility, which was scheduled to mature on October 16, 2028, and increases total borrowing capacity from $92 million to $130 million. Comprised of an $80 million revolving credit facility and a $50 million accordion feature, the facility provides greater liquidity and financial flexibility to support working capital needs, strategic investments, acquisition opportunities, and other general corporate purposes. It also includes a more favorable covenant structure that enhances financial flexibility while maintaining prudent financial discipline. The facility matures on August 4, 2031, and the Company can repay borrowings at any time prior to maturity. Interest is payable quarterly at a predefined margin plus one-month term Secured Overnight Financing Rate (SOFR).
“This new revolving credit facility significantly strengthens our financial position,” said Nick Ribich, Vice President and Chief Financial Officer of Burnham Holdings. “With increased borrowing capacity, an improved covenant structure and an extended maturity, we are well positioned to invest across our businesses, pursue strategic growth opportunities and execute on our long-term strategy. We deeply appreciate Fulton’s longstanding relationship with Burnham and are pleased to welcome Wells Fargo as a new banking partner. Their support reflects confidence in the strength of our business as we continue executing our strategy and creating value for our shareholders.”
Wells Fargo and Fulton were selected following a competitive financing process managed by Ernst & Young Debt Capital Markets Group in coordination with BHI management. McNees Wallace and Nurick LLC served as legal counsel to the Company in connection with this transaction.
About Burnham Holdings, Inc.
Burnham Holdings, Inc. (BHI) is the parent company of multiple subsidiaries that are leading domestic manufacturers of boilers for residential applications. Additionally, through its various subsidiaries it serves the commercial/industrial boiler markets with a variety of boiler products, rental trailers, and boiler room services. BHI is focused on creating value through portfolio optimization, operational efficiency and an expanding suite of high-performance heating solutions. BHI is listed on the OTC Exchange under the ticker symbol “BURCA.” For more information, please visit www.burnhamholdings.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and assumptions that are subject to risks and uncertainties, including the timing of closing conditions and macroeconomic realities. Actual results may differ materially from those expressed or implied in the forward-looking statements.
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SOURCE Burnham Holdings, Inc.
