• Knife River entered a second amendment on May 15, 2026 to its May 31, 2023 credit agreement with lenders led by JPMorgan Chase Bank as administrative agent.
• The amendment upsized the existing term B loans by USD 400 million, lifting total term B borrowings to USD 895 million, while cutting the interest rate margin by 0.25%.
• The 2026 Tranche B Term Loans carry interest of 1.75% for SOFR loans or 0.75% for alternate base rate loans.
• Proceeds will refinance the existing term B loans, repay revolving credit facility borrowings, support working capital, and fund general corporate purposes.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Knife River Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001628280-26-036006), on May 18, 2026, and is solely responsible for the information contained therein.