secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2025-04-17T23:59:59+00:00
Accession:  0000918541-25-000050
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NN closes $128M term loan with Marathon Asset Management; refinances existing debt
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- New Term Loan Facility: $118M term loans + $10M delayed draw, matures April 2030.
- Interest: Base Rate 8.25%, Adjusted Term SOFR 9.25%; PIK interest option available.
- Existing $150M term loan with Oaktree terminated upon closing.
- Company cites improved leverage/liquidity covenants to support growth and M&A.
- ABL facility refinanced earlier in Jan 2025: $65M, five-year maturity, improved terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854125000050/0000918541-25-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854125000050/nnbr-20250416.htm
  HTML page:      https://secwatch.observer/filing/0000918541-25-000050

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