LINDSAY CORPORATION (NYSE:LNN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.   Entry Into a Material Definitive Agreement.



As previously disclosed, on February 18, 2015, Lindsay Corporation (the “Company”) entered into the Amended and Restated Revolving Credit Agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association (the “Bank”), which continues to provide for a $50 million unsecured revolving credit facility.  A copy of the Credit Agreement was filed as Exhibit 10.2 to the Current Report on Form 8-K filed by the Company on February 20, 2015. 

On February 28, 2017, the Company and the Bank entered into the First Amendment to the Credit Agreement (the “First Amendment”).  Capitalized terms used herein and not otherwise defined have the meanings given to them in the Credit Agreement, as amended by the First Amendment.

The First Amendment, among other things, (i) extends the Termination Date from February 18, 2018 to February 28, 2020, (ii) increases the Letter of Credit Sublimit from $10 million to $15 million, (iii) increases the Company’s maximum permitted Leverage Ratio from 2.50:1.0 to 2.75:1.0, (iv) reduces certain intermediate tiers of the Leverage-Ratio-based LIBOR Rate Margin pricing grid by 10 basis points while leaving unchanged the minimum and maximum spreads to the LIBOR Rate, and (v) introduces a LIBOR Rate floor of 0%. 

The foregoing description of the First Amendment does not purport to be complete and is subject to and qualified in its entirety by reference to the complete text of the First Amendment, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference.

Item 2.03.   Creation of a Direct Financial Obligation or an Obligation Under an Off‑Balance Sheet Arrangement of a Registrant.



The description of the First Amendment set forth in Item 1.01 of this Current Report on Form 8‑K is incorporated herein by reference.



Item 9.01.   Financial Statements and Exhibits

(d) Exhibits

ExhibitDescription

10.1First Amendment to Amended and Restated Revolving Credit Agreement, dated February 28, 2017, by and between the Company and the Bank.



























About LINDSAY CORPORATION (NYSE:LNN)

Lindsay Corporation, along with its subsidiaries, provides a range of water management and road infrastructure products and services. The Company operates through two segments: Irrigation Segment and Infrastructure Segment. The Irrigation Segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, which are used primarily in the agricultural industry. The Infrastructure Segment includes the manufacture and marketing of moveable barriers, specialty barriers, crash cushions and end terminals, road marking and road safety equipment, large diameter steel tubing, and railroad signals and structures. It also manufactures and markets hose reel travelers under the Perrot and Greenfield brands in Europe and South Africa. It produces or markets chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems, which it sells under its GrowSmart brand.

LINDSAY CORPORATION (NYSE:LNN) Recent Trading Information

LINDSAY CORPORATION (NYSE:LNN) closed its last trading session up +2.42 at 82.49 with 138,803 shares trading hands.