FutureFuel Corp. Debt Disclosure
| BORROWINGS |
On February 21, 2025, the Company, with FutureFuel Chemical Company as the borrower and certain of the Company’s other subsidiaries as guarantors, amended and restated its credit agreement, as further amended effective as of June 30, 2025 and December 22, 2025 (the “Credit Agreement”), originally entered into on April 16, 2015 with the lenders party thereto, Regions Bank as administrative agent and collateral agent, and PNC Bank, N.A., as syndication agent (as amended, the “Prior Credit Agreement”). The Credit Agreement consists of a -year revolving credit facility in a dollar amount of up to $35,000, which includes a sublimit of $30,000 for letters of credit and $15,000 for swingline loans (collectively, the “Credit Facility”). The Credit Facility expires on February 21, 2030.
The interest rate floats at the following margins over Secured Overnight Financing Rate ("SOFR") or base rate based upon our leverage ratio.
| Adjusted SOFR | ||||||||||||
| Rate Loans | ||||||||||||
| Consolidated Leverage Ratio | and Letter of Credit Fee | Base Rate Loans | Commitment Fee | |||||||||
| < 1.00:1.0 | 1.00 | % | 0.00 | % | 0.15 | % | ||||||
| ≥ 1.00:1.0 And < 1.50:1.0 | 1.25 | % | 0.25 | % | 0.15 | % | ||||||
| ≥ 1.50:1.0 And < 2.00:1.0 | 1.50 | % | 0.50 | % | 0.20 | % | ||||||
| ≥ 2.00:1.0 And < 2.50:1.0 | 1.75 | % | 0.75 | % | 0.20 | % | ||||||
| ≥ 2.50:1.0 | 2.00 | % | 1.00 | % | 0.25 | % | ||||||
The terms of the Credit Facility contain certain negative covenants and conditions including a maximum consolidated leverage ratio and a minimum consolidated interest coverage ratio.
There were borrowings under the Credit Agreement at December 31, 2025 or December 31, 2024.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 31, 2025 | |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 14, 2023 | |
| 2021 | Mar 15, 2022 | |
| 2020 | Mar 16, 2021 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.