CRL · 10-Q · 2026Q3 · Full report

Interest Rate and Refinancing Exposure

CHARLES RIVER LABORATORIES INTERNATIONAL, INC. · 2026-11-04 · Importance 37 · Surprise 6

At September 26, 2026, the company had $943.2 million outstanding under its revolving facility and $1.5 billion in Senior Notes, for total debt of $2.443 billion. The $2.0 billion multi-currency Credit Facility matures in December 2029, with no required scheduled payment before maturity. U.S.-dollar revolving loans bear interest at either the base rate or adjusted SOFR, while euro and sterling loans use adjusted EURIBOR and daily simple SONIA, respectively, plus a margin based on leverage. Third-quarter interest expense increased 12.3% year over year to $28.5 million, primarily due to higher average debt balances and non-cash accretion of deferred Cambodian NHP Supplier purchase consideration.

Key facts

• Interest expense was $28.5 million in the third quarter of 2026, up $3.1 million or 12.3% from $25.4 million, primarily due to higher average debt balances and non-cash accretion of deferred Cambodian NHP Supplier consideration. source
• Interest expense was $85.6 million in the nine months ended September 26, 2026, up $2.4 million or 2.8% from $83.3 million, primarily due to non-cash accretion of deferred Cambodian NHP Supplier consideration. source
• The Company’s revolving-facility interest rates are based on applicable U.S. dollar base-rate or adjusted SOFR, euro adjusted EURIBOR, or sterling daily simple SONIA benchmarks, plus a margin based on leverage. source