secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2024-08-30T23:59:59+00:00
Accession:  0000918541-24-000129
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NN, Inc. Amends Term Loan and ABL Credit Agreements to Increase Debt Limits and Adjust Liquidity Covenants
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- NN, Inc. entered into Amendment No. 4 to Term Loan Credit Agreement with Oaktree on August 29, 2024, requiring sale-leaseback proceeds to prepay outstanding principal.
- The amendments raise allowable indebtedness for fixed asset acquisition from $20M to $40M, with a $26.95M cap on sale-leaseback transactions.
- Both the TLCA and ABL amendments modify the Domestic Liquidity covenant, requiring minimum $10M liquidity and weekly cash flow projections when leverage exceeds 3.0x or liquidity ≤ $35M.
- The amendments were executed on August 29, 2024 between NN, Inc., Oaktree Fund Administration (TLCA), and JPMorgan Chase (ABL).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854124000129/0000918541-24-000129-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854124000129/nnbr-20240829.htm
  HTML page:      https://secwatch.observer/filing/0000918541-24-000129

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