{"success":true,"data":{"pressRelease":{"id":"129206","rtpr_id":"nBw5M7Y2Ra","ticker":"PPIH","exchange":"NASDAQ","all_tickers":["PPIH"],"title":"Perma-Pipe Announces Closing of Global Credit Facility of Up to $139 Million","author":"Business Wire","published_at":"2026-08-27T11:47:00.122Z","article_body":"Perma-Pipe Announces Closing of Global Credit Facility of Up to $139 Million\n\nNew Credit Facility Enhances Global Financial Flexibility to Support Growth\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) (“Perma-Pipe” or\nthe “Company”), a leading global provider of engineered piping and leak\ndetection solutions for energy, infrastructure and industrial markets, today\nannounced the closing of a new global credit facility with J.P. Morgan\nconsists of a $75.0 million revolving credit facility and a $14.0 million term\nloan facility, and allows the Company access to an additional $50.0 million in\nincremental capacity.\n\nThe new facility replaces and consolidates multiple existing credit facilities\nmaintained by the Company and its subsidiaries across various jurisdictions,\ncreating a more streamlined and centralized financing structure for\nPerma-Pipe’s global operations. It also provides Perma-Pipe with\nsignificantly increased financial capacity, enhanced liquidity and greater\nflexibility to support working capital requirements, letters of credit,\nstrategic investments and the Company’s continued expansion in key markets.\n\nSaleh Sagr, President and Chief Executive Officer of Perma-Pipe, commented:\n\n“The closing of this global credit facility marks an important milestone for\nPerma-Pipe. By consolidating multiple credit facilities across jurisdictions\ninto a single global financing arrangement, we have enhanced our financial\nflexibility, simplified our banking structure and strengthened our ability to\nmanage our growing international operations.\n\n“As we continue to expand across North America, the Middle East and other\nstrategic markets, having a strong, scalable and efficient financial\nfoundation is increasingly important. This facility provides us with the\nliquidity to support our customers, fund working capital requirements, and\npursue attractive growth opportunities.\n\n“We are very pleased to work with J.P. Morgan as our strategic banking\npartner and appreciate the confidence they have placed in Perma-Pipe. We look\nforward to building a strong, long-term relationship with the bank as we\ncontinue to execute our global growth strategy,” concluded Mr. Sagr.\n\nMatthew Lewicki, Vice President and Chief Financial Officer of Perma-Pipe,\nadded:\n\n“This new global credit facility greatly enhances Perma-Pipe’s global\ntreasury and financing structure. By consolidating multiple facilities across\nseveral jurisdictions into a single global credit facility, we have simplified\nour banking arrangements, strengthened liquidity management and increased\nvisibility and flexibility across the organization. The facility also provides\nsubstantial capacity to support our working capital requirements and future\ngrowth as our backlog, project activity, and international operations continue\nto expand, providing a strong financial foundation for Perma-Pipe’s next\nphase of growth.”\n\nAbout Perma-Pipe International Holdings, Inc.\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in\nengineered piping and corrosion protection solutions. The Company provides\npre-insulated piping systems, leak detection systems, anti-corrosion coatings\nand related engineered products and services to customers across the energy,\ndistrict energy, infrastructure, industrial, Oil & Gas, water\ntransmission, and other critical infrastructure markets.\n\nPerma-Pipe operates manufacturing and service facilities across North America,\nMiddle East, North Africa, India and other strategic markets, enabling the\nCompany to serve customers globally while providing local manufacturing and\nengineering capabilities.\n\nFor more information, visit www.permapipe.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.permapipe.com%2F&esheet=54595316&newsitemid=20260826082306&lan=en-US&anchor=www.permapipe.com&index=1&md5=587598dc227d6203ad3fee0592e4ed4c)\n.\n\nForward-Looking Statements\n\nCertain statements and other information contained in this press release that\ncan be identified by the use of forward-looking terminology constitute\n“forward-looking statements” within the meaning of Section 27A of the\nSecurities Act of 1933, as amended, and Section 21E of the Securities Exchange\nAct of 1934, as amended, and are subject to the safe harbors created thereby,\nincluding, without limitation, statements regarding the expected future\nperformance and operations of the Company. These statements should be\nconsidered as subject to the many risks and uncertainties that exist in the\nCompany's operations and business environment. Such risks and uncertainties\ninclude, but are not limited to, the following: (i) the impact of a health\npandemic on the Company's results of operations, financial condition and cash\nflows; (ii) fluctuations in the price of oil and natural gas and its impact on\nthe customer order volume for the Company's products; (iii) the Company's\nability to comply with all covenants in its credit facilities; (iv) the\nCompany’s ability to repay its debt and renew expiring international credit\nfacilities; (v) the Company’s ability to effectively execute its strategic\nplan and achieve profitability and positive cash flows; (vi) the impact of\nglobal economic weakness and volatility; (vii) fluctuations in steel prices\nand the Company’s ability to offset increases in steel prices through price\nincreases in its products; (viii) the timing of order receipt, execution,\ndelivery and acceptance for the Company’s products; (ix) decreases in\ngovernment spending on projects using the Company’s products, and challenges\nto the Company’s non-government customers’ liquidity and access to capital\nfunds; (x) the Company’s ability to successfully negotiate progress-billing\narrangements for its large contracts; (xi) aggressive pricing by existing\ncompetitors and the entrance of new competitors in the markets in which the\nCompany operates; (xii) the Company’s ability to purchase raw materials at\nfavorable prices and to maintain beneficial relationships with its suppliers;\n(xiii) the Company’s ability to manufacture products free of latent defects\nand to recover from suppliers who may provide defective materials to the\nCompany; (xiv) reductions or cancellations of orders included in the\nCompany’s backlog; (xv) the Company's ability to collect an account\nreceivable related to a project in the Middle East; (xvi) risks and\nuncertainties related to the Company's international business operations;\n(xvii) the Company’s ability to attract and retain senior management and key\npersonnel; (xviii) the Company’s ability to achieve the expected benefits of\nits growth initiatives; (xix) the Company’s ability to interpret changes in\ntax regulations and legislation; (xx) the Company's ability to use its net\noperating loss carryforwards; (xxi) reversals of previously recorded revenue\nand profits resulting from inaccurate estimates made in connection with the\nCompany’s percentage-of-completion revenue recognition; (xxii) the\nCompany’s failure to establish and maintain effective internal control over\nfinancial reporting; and (xxiii) the impact of cybersecurity threats on the\nCompany’s information technology systems. Shareholders, potential investors\nand other readers are urged to consider these factors carefully in evaluating\nthe forward-looking statements and are cautioned not to place undue reliance\non such forward-looking statements. The forward-looking statements made herein\nare made only as of the date of this press release and we undertake no\nobligation to publicly update any forward-looking statements, whether as a\nresult of new information, future events or otherwise. More detailed\ninformation about factors that may affect our performance may be found in our\nfilings with the Securities and Exchange Commission, which are available at\nhttps://www.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.sec.gov&esheet=54595316&newsitemid=20260826082306&lan=en-US&anchor=https%3A%2F%2Fwww.sec.gov&index=2&md5=ee0d94b4c072560e96262ddfff5e022f)\nand under the Investor Center section of our website\n(http://investors.permapipe.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Finvestors.permapipe.com&esheet=54595316&newsitemid=20260826082306&lan=en-US&anchor=http%3A%2F%2Finvestors.permapipe.com&index=3&md5=22e288be781851c45ce3416b79793a6d)\n).\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260826082306/en/\n(https://www.businesswire.com/news/home/20260826082306/en/)\n\nCOMPANY: \n\nCONTACTS:\n\nPerma-Pipe International Holdings, Inc. \n\nSaleh Sagr, President and CEO\n\nPerma-Pipe Investor Relations \n\n847.929.1200\n\ninvestor@permapipe.com (mailto:investor@permapipe.com)\n\n \n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw5M7Y2Ra","title":"Perma-Pipe Announces Closing of Global Credit Facility of Up to $139 Million","author":"Business Wire","ticker":"PPIH","created":"2026-08-27T11:47:00.122Z","tickers":["PPIH"],"exchange":"NASDAQ","article_body":"Perma-Pipe Announces Closing of Global Credit Facility of Up to $139 Million\n\nNew Credit Facility Enhances Global Financial Flexibility to Support Growth\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) (“Perma-Pipe” or\nthe “Company”), a leading global provider of engineered piping and leak\ndetection solutions for energy, infrastructure and industrial markets, today\nannounced the closing of a new global credit facility with J.P. Morgan\nconsists of a $75.0 million revolving credit facility and a $14.0 million term\nloan facility, and allows the Company access to an additional $50.0 million in\nincremental capacity.\n\nThe new facility replaces and consolidates multiple existing credit facilities\nmaintained by the Company and its subsidiaries across various jurisdictions,\ncreating a more streamlined and centralized financing structure for\nPerma-Pipe’s global operations. It also provides Perma-Pipe with\nsignificantly increased financial capacity, enhanced liquidity and greater\nflexibility to support working capital requirements, letters of credit,\nstrategic investments and the Company’s continued expansion in key markets.\n\nSaleh Sagr, President and Chief Executive Officer of Perma-Pipe, commented:\n\n“The closing of this global credit facility marks an important milestone for\nPerma-Pipe. By consolidating multiple credit facilities across jurisdictions\ninto a single global financing arrangement, we have enhanced our financial\nflexibility, simplified our banking structure and strengthened our ability to\nmanage our growing international operations.\n\n“As we continue to expand across North America, the Middle East and other\nstrategic markets, having a strong, scalable and efficient financial\nfoundation is increasingly important. This facility provides us with the\nliquidity to support our customers, fund working capital requirements, and\npursue attractive growth opportunities.\n\n“We are very pleased to work with J.P. Morgan as our strategic banking\npartner and appreciate the confidence they have placed in Perma-Pipe. We look\nforward to building a strong, long-term relationship with the bank as we\ncontinue to execute our global growth strategy,” concluded Mr. Sagr.\n\nMatthew Lewicki, Vice President and Chief Financial Officer of Perma-Pipe,\nadded:\n\n“This new global credit facility greatly enhances Perma-Pipe’s global\ntreasury and financing structure. By consolidating multiple facilities across\nseveral jurisdictions into a single global credit facility, we have simplified\nour banking arrangements, strengthened liquidity management and increased\nvisibility and flexibility across the organization. The facility also provides\nsubstantial capacity to support our working capital requirements and future\ngrowth as our backlog, project activity, and international operations continue\nto expand, providing a strong financial foundation for Perma-Pipe’s next\nphase of growth.”\n\nAbout Perma-Pipe International Holdings, Inc.\n\nPerma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in\nengineered piping and corrosion protection solutions. The Company provides\npre-insulated piping systems, leak detection systems, anti-corrosion coatings\nand related engineered products and services to customers across the energy,\ndistrict energy, infrastructure, industrial, Oil & Gas, water\ntransmission, and other critical infrastructure markets.\n\nPerma-Pipe operates manufacturing and service facilities across North America,\nMiddle East, North Africa, India and other strategic markets, enabling the\nCompany to serve customers globally while providing local manufacturing and\nengineering capabilities.\n\nFor more information, visit www.permapipe.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.permapipe.com%2F&esheet=54595316&newsitemid=20260826082306&lan=en-US&anchor=www.permapipe.com&index=1&md5=587598dc227d6203ad3fee0592e4ed4c)\n.\n\nForward-Looking Statements\n\nCertain statements and other information contained in this press release that\ncan be identified by the use of forward-looking terminology constitute\n“forward-looking statements” within the meaning of Section 27A of the\nSecurities Act of 1933, as amended, and Section 21E of the Securities Exchange\nAct of 1934, as amended, and are subject to the safe harbors created thereby,\nincluding, without limitation, statements regarding the expected future\nperformance and operations of the Company. These statements should be\nconsidered as subject to the many risks and uncertainties that exist in the\nCompany's operations and business environment. Such risks and uncertainties\ninclude, but are not limited to, the following: (i) the impact of a health\npandemic on the Company's results of operations, financial condition and cash\nflows; (ii) fluctuations in the price of oil and natural gas and its impact on\nthe customer order volume for the Company's products; (iii) the Company's\nability to comply with all covenants in its credit facilities; (iv) the\nCompany’s ability to repay its debt and renew expiring international credit\nfacilities; (v) the Company’s ability to effectively execute its strategic\nplan and achieve profitability and positive cash flows; (vi) the impact of\nglobal economic weakness and volatility; (vii) fluctuations in steel prices\nand the Company’s ability to offset increases in steel prices through price\nincreases in its products; (viii) the timing of order receipt, execution,\ndelivery and acceptance for the Company’s products; (ix) decreases in\ngovernment spending on projects using the Company’s products, and challenges\nto the Company’s non-government customers’ liquidity and access to capital\nfunds; (x) the Company’s ability to successfully negotiate progress-billing\narrangements for its large contracts; (xi) aggressive pricing by existing\ncompetitors and the entrance of new competitors in the markets in which the\nCompany operates; (xii) the Company’s ability to purchase raw materials at\nfavorable prices and to maintain beneficial relationships with its suppliers;\n(xiii) the Company’s ability to manufacture products free of latent defects\nand to recover from suppliers who may provide defective materials to the\nCompany; (xiv) reductions or cancellations of orders included in the\nCompany’s backlog; (xv) the Company's ability to collect an account\nreceivable related to a project in the Middle East; (xvi) risks and\nuncertainties related to the Company's international business operations;\n(xvii) the Company’s ability to attract and retain senior management and key\npersonnel; (xviii) the Company’s ability to achieve the expected benefits of\nits growth initiatives; (xix) the Company’s ability to interpret changes in\ntax regulations and legislation; (xx) the Company's ability to use its net\noperating loss carryforwards; (xxi) reversals of previously recorded revenue\nand profits resulting from inaccurate estimates made in connection with the\nCompany’s percentage-of-completion revenue recognition; (xxii) the\nCompany’s failure to establish and maintain effective internal control over\nfinancial reporting; and (xxiii) the impact of cybersecurity threats on the\nCompany’s information technology systems. Shareholders, potential investors\nand other readers are urged to consider these factors carefully in evaluating\nthe forward-looking statements and are cautioned not to place undue reliance\non such forward-looking statements. The forward-looking statements made herein\nare made only as of the date of this press release and we undertake no\nobligation to publicly update any forward-looking statements, whether as a\nresult of new information, future events or otherwise. More detailed\ninformation about factors that may affect our performance may be found in our\nfilings with the Securities and Exchange Commission, which are available at\nhttps://www.sec.gov\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.sec.gov&esheet=54595316&newsitemid=20260826082306&lan=en-US&anchor=https%3A%2F%2Fwww.sec.gov&index=2&md5=ee0d94b4c072560e96262ddfff5e022f)\nand under the Investor Center section of our website\n(http://investors.permapipe.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Finvestors.permapipe.com&esheet=54595316&newsitemid=20260826082306&lan=en-US&anchor=http%3A%2F%2Finvestors.permapipe.com&index=3&md5=22e288be781851c45ce3416b79793a6d)\n).\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260826082306/en/\n(https://www.businesswire.com/news/home/20260826082306/en/)\n\nCOMPANY: \n\nCONTACTS:\n\nPerma-Pipe International Holdings, Inc. \n\nSaleh Sagr, President and CEO\n\nPerma-Pipe Investor Relations \n\n847.929.1200\n\ninvestor@permapipe.com (mailto:investor@permapipe.com)\n\n \n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-08-27T11:47:00.260950589Z","server_sent_at_ms":1787831220260},"received_at":"2026-08-27T11:47:00.314Z","source_url":"https://www.businesswire.com/news/home/20260826082306/en/"},"analysis":{"id":"118117","press_release_id":"129206","analysis_json":{"industry":{"label":"Construction & Engineering","sector":"Industrials"},"redFlags":[],"eventType":"debt_offering","narrative":"Perma-Pipe closed a new global credit facility of up to $139 million with J.P. Morgan, consisting of a $75 million revolver, a $14 million term loan, and $50 million in incremental capacity.\n\nThis arrangement replaces multiple existing credit facilities across various jurisdictions, creating a streamlined financing structure to support the company's global operations and enhance liquidity.\n\nManagement highlighted that the facility strengthens the financial foundation to fund working capital, letters of credit, and strategic investments in key markets including North America and the Middle East.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"New $139M credit facility consolidates debt and boosts liquidity for global expansion."},"keyFigures":{"customDimensions":{"revolver":75000000,"term_loan":14000000,"total_facility":139000000,"incremental_capacity":50000000}},"quotedText":"The closing of this global credit facility marks an important milestone for Perma-Pipe.","namedEntities":{"people":[{"name":"Saleh Sagr","role":"President and Chief Executive Officer"},{"name":"Matthew Lewicki","role":"Vice President and Chief Financial Officer"}],"products":["engineered piping systems","leak detection systems","anti-corrosion coatings"],"companies":[{"name":"Perma-Pipe International Holdings, Inc.","ticker":"PPIH"},{"name":"J.P. 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Morgan, consisting of a $75 million revolver, a $14 million term loan, and $50 million in incremental capacity.\n\nThis arrangement replaces multiple existing credit facilities across various jurisdictions, creating a streamlined financing structure to support the company's global operations and enhance liquidity.\n\nManagement highlighted that the facility strengthens the financial foundation to fund working capital, letters of credit, and strategic investments in key markets including North America and the Middle East.","key_figures":{"customDimensions":{"revolver":75000000,"term_loan":14000000,"total_facility":139000000,"incremental_capacity":50000000}},"named_entities":{"people":[{"name":"Saleh Sagr","role":"President and Chief Executive Officer"},{"name":"Matthew Lewicki","role":"Vice President and Chief Financial Officer"}],"products":["engineered piping systems","leak detection systems","anti-corrosion coatings"],"companies":[{"name":"Perma-Pipe International Holdings, Inc.","ticker":"PPIH"},{"name":"J.P. Morgan","relationship":"lender"}],"dollarAmounts":[{"amount":"$139 million","context":"total capacity of global credit facility"},{"amount":"$75.0 million","context":"revolving credit facility"},{"amount":"$14.0 million","context":"term loan facility"},{"amount":"$50.0 million","context":"incremental capacity"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-08-27T12:12:32.929Z","global_importance":25,"audience_relevance":10,"importance_components":{"tickerTier":"small-cap","eventGravity":"new_financing_facility","sectorWeight":"industrials"}},"durationMs":148637,"modelName":"glm-4.7"}}