secwatch.observer — SEC 8-K summary
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Issuer:     ALBANY INTERNATIONAL CORP /DE/ (AIN)
CIK:        0000819793
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0000819793-23-000062
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albany International amends credit agreement to replace LIBOR with Term SOFR
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- Amendment replaces LIBOR with Term SOFR plus credit spread adjustment; floor of 0.00%.
- No other material changes to terms, covenants or conditions of $700M credit facility.
- Effective June 23, 2023; required lenders did not object within deadline.
- Outstanding LIBOR loans continue at LIBOR until end of interest period, then convert.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/819793/000081979323000062/0000819793-23-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/819793/000081979323000062/ain-20230623.htm
  HTML page:      https://secwatch.observer/filing/0000819793-23-000062

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