secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2025-04-02T23:59:59+00:00
Accession:  0000918541-25-000041
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NN, Inc. amends Oaktree term loan; relaxes leverage and liquidity covenants
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- Max Consolidated Net Leverage Ratio raised to 3.25x for Q1 2025, falling to 3.00x thereafter.
- Domestic Liquidity minimum reduced to $10M for Q1 2025, from $20M previously.
- Quarterly testing; weekly cash flow projections required if leverage >=3.00x or liquidity <=$35M.
- Amendment No. 6 to Term Loan Credit Agreement, dated March 28, 2025, with Oaktree as agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854125000041/0000918541-25-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854125000041/nnbr-20250328.htm
  HTML page:      https://secwatch.observer/filing/0000918541-25-000041

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer