secwatch.observer — SEC 8-K summary
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Issuer:     TREDEGAR CORP (TG)
CIK:        0000850429
Form:       8-K
Filed at:   2024-04-22T23:59:59+00:00
Accession:  0000850429-24-000008
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tredegar amends credit agreement, extends ABL reduction date to Sept 30, 2025; Terphane sale review continues
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- Amendment No. 4 extends the ABL Adjustment Date from March 31, 2025 to September 30, 2025.
- After the ABL Adjustment Date, maximum borrowing under the facility reduces from $180M to $125M.
- Monthly minimum Consolidated EBITDA covenants extended to accommodate the new September 2025 deadline.
- Terphane sale to Oben Group for $116M net debt-free; Brazilian CADE review ongoing, max deadline Nov 18, 2024.
- Weekly borrowing base certificates may be required if Availability drops below 20% of Aggregate Commitment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/850429/000085042924000008/0000850429-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/850429/000085042924000008/tg-20240422.htm
  HTML page:      https://secwatch.observer/filing/0000850429-24-000008

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