ASTRONICS CORP (ATRO): debt financing — Astronics amends credit facilities: revolver raised $5M to $120M, covenants relaxed

ASTRONICS CORP

ABL revolver increased $5M to $120M temporary; expires earlier of Q1 2024 filing or May 15, 2024.
Max capital expenditure covenant raised; $40M annual limit by Q4 2024; previous cap lower.
Min Consolidated EBITDA thresholds cut for Q1–Q3 2024: $45.3M, $48.0M, $67.1M respectively.
Term Loan Agreement amended with identical covenant changes effective March 27, 2024.
Both amendments executed with lender consent; previous $120M increase had expired Feb 1, 2024.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ASTRONICS CORP amended term loan with Great Rock Capital Partners Management, LLC, as Agent.

Instrument: term loan
Counterparty: Great Rock Capital Partners Management, LLC, as Agent
Event: amendment

Exact text from the filing

The Company also entered into Amendment No. 2 (the “Term Loan Amendment”) to Credit Agreement (the “Term Loan Agreement”) on March 27, 2024, with Great Rock Capital Partners Management, LLC, as Agent, and the lenders signatory thereto. The Term Loan Amendment implemented the Covenant Changes with respect to the Term Loan Agreement.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ASTRONICS CORP amended revolving credit of from $115 million to $120 million with HSBC Bank USA, National Association, as Agent.

Instrument: revolving credit
Principal: from $115 million to $120 million
Counterparty: HSBC Bank USA, National Association, as Agent
Event: amendment

Exact text from the filing

The ABL Amendment increased the maximum aggregate amount that the Company can borrow under the revolving credit line by $5 million, from $115 million to $120 million, with borrowings subject to a borrowing base determined primarily by inventory and accounts receivable.

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299 debt financings filed in the last 30 days. Browse all debt financings →

ASTRONICS CORP filing history →

Source: SEC EDGAR

accession 0000008063-24-000021

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