secwatch.observer — SEC 8-K summary
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Issuer:     ALBANY INTERNATIONAL CORP /DE/ (AIN)
CIK:        0000819793
Form:       8-K
Filed at:   2023-08-16T23:59:59+00:00
Accession:  0000819793-23-000075
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albany International upsizes revolving credit facility to $800M, matures 2028
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- New $800M unsecured five-year revolving credit facility replaces prior $700M four-year facility from Oct 2020.
- Matures August 16, 2028; interest rate based on Term SOFR plus spread of 1.50% to 2.00% depending on leverage ratio.
- Lenders include JPMorgan, Bank of America, Wells Fargo, Capital One, Truist, TD Bank, PNC, HSBC, Nordea.
- Proceeds to be used for working capital, general corporate purposes, and financing acquisitions.
- Guarantees by certain U.S. and foreign subsidiaries; similar covenants to prior agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/819793/000081979323000075/0000819793-23-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/819793/000081979323000075/ain-20230816.htm
  HTML page:      https://secwatch.observer/filing/0000819793-23-000075

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