---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-001256"
form_type: "8-K"
ticker: "GTX"
cik: "0001735707"
company_name: "Garrett Motion Inc."
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:10:18.237298+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Garrett Motion secures $700M term loan to fund preferred stock repurchase and conversion

## Summary
- New $700M Tranche B term loan, drawn on closing, matures April 30, 2028; quarterly amortization 7.5% first two years then 10%.
- Revolving credit facility increased by $95M to $569.75M; maturity extended to April 30, 2028.
- Proceeds used to repurchase ~$570M of Series A Convertible Preferred Stock and fund conversion to common stock.
- Interest on term loan at SOFR+4.50% or base+3.50%; LIBOR replaced with SOFR for existing dollar loans.
- Conditions include filing amended certificate of designations for Series A preferred and other customary conditions.

## SEC filing metadata
- accession: 0000950142-23-001256
- form_type: 8-K
- ticker: GTX
- cik: 0001735707
- company_name: Garrett Motion Inc.
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1735707/000095014223001256/0000950142-23-001256-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1735707/000095014223001256/eh230354121_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-001256
- JSON: https://secwatch.observer/filing/0000950142-23-001256.json
- Plain text: https://secwatch.observer/filing/0000950142-23-001256.txt

## Key facts
- Material Agreements
  Garrett Motion Inc. amended Third Amendment to Credit Agreement with Centerbridge Partners, L.P. and Oaktree Capital Management, L.P. valued at Incremental Term Facility of $700,000,000; Incremental Revolving Commitment increase of $95,000,000 (effective 2022-04-27).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Centerbridge Partners, L.P. and Oaktree Capital Management, L.P.
  - Value: Incremental Term Facility of $700,000,000; Incremental Revolving Commitment increase of $95,000,000
  - Effective: 2022-04-27
  source text: Item 1.01 Entry into a Material Definitive Agreement. Third Amendment to Credit Agreement On April 27, 2022 (the “ Signing Date ”), Garrett Motion Inc. (the “ Company ”) entered into Amendment No. 3 (the “ Third Amendment ”) to that certain Credit Agreement, dated as of April 30, 2021, by and among the Company, Garrett LX I S.à r.l. (the “ Lux Borrower ”), Garrett Motion Holdings Inc. (the “ U.S. Co-Borrower ” and together with the Lux Borrower, the “ Term Borrowers ”), Garrett Motion Sàrl (the “ Swiss Borrower ”), the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent (as amended by the First Amendment, dated as of January 11, 2022 and the Second Amendment, dated March 22, 2022, the “ Credit Agreement ”, and as amended by the Third Amendment, the “ Amended Credit Agreement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1735707/000095014223001256/0000950142-23-001256-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.