Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
ASTEC INDUSTRIES INC incurred credit facility of revolving credit facility in an aggregate amount of up to $250,000,000 and an incremental credit facility in an aggregat with Wells Fargo Bank, National Association at adjusted term SOFR for 1, 3 or 6 month periods plus an applicable margin ranging maturing December 19, 2027 for the revolving credit facility; incremental credit facility maturity as specified in the relevant documentation.
- Instrument
- credit facility
- Principal
- revolving credit facility in an aggregate amount of up to $250,000,000 and an incremental credit facility in an aggregat
- Counterparty
- Wells Fargo Bank, National Association
- Rate
- adjusted term SOFR for 1, 3 or 6 month periods plus an applicable margin ranging
- Maturity
- December 19, 2027 for the revolving credit facility; incremental credit facility maturity as specified in the relevant documentation
- Event
- incurrence
Exact text from the filing
On December 19, 2022, Astec Industries, Inc. (the “ Company ”) entered into a credit agreement (the “ Credit Agreement ”) that provides for (i) a revolving credit facility (consisting of revolving credit loans and swingline loans) and a letter of credit facility, in an aggregate amount of up to $250,000,000 and (ii) an incremental credit facility in an aggregate amount not to exceed $125,000,000 (the “ Credit Facilities ”).
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ASTEC INDUSTRIES INC terminated Previous Credit Facility with Wells Fargo Bank, National Association (effective 2022-12-19).
- Action
- termination
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association
- Effective
- 2022-12-19
Exact text from the filing
In connection with the entry into the Credit Facilities, the Company repaid all outstanding borrowings under its prior $150 million revolving credit facility pursuant to that certain Amended and Restated Credit Agreement, dated as of April 12, 2012 and as amended, between the Company, certain of its subsidiaries and Wells Fargo Bank, National Association (the “ Previous Credit Facility ”) utilizing borrowings under the Credit Facilities and terminated the Previous Credit Facility.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
ASTEC INDUSTRIES INC entered into Credit Agreement with Wells Fargo Bank, National Association valued at up to $250,000,000 (effective 2022-12-19).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Wells Fargo Bank, National Association
- Value
- up to $250,000,000
- Effective
- 2022-12-19
Exact text from the filing
On December 19, 2022, Astec Industries, Inc. (the “ Company ”) entered into a credit agreement (the “ Credit Agreement ”) that provides for (i) a revolving credit facility (consisting of revolving credit loans and swingline loans) and a letter of credit facility, in an aggregate amount of up to $250,000,000 and (ii) an incremental credit facility in an aggregate amount not to exceed $125,000,000 (the “ Credit Facilities ”).
View on SEC.gov