---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-23-002581"
form_type: "8-K"
ticker: "OEC"
cik: "0001609804"
company_name: "Orion S.A."
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:40:44.510034+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Orion renews revolving credit facility, reduces size to €300M, extends maturity to 2028

## Summary
- Facility reduced from €350M to €300M due to stronger cash flow; oversubscribed by 20%.
- Five-year term, maturing September 24, 2028; interest rate increased on the facility.
- Added ESG-linked margin ratchet that can reduce interest rate by up to 5 bps if sustainability targets met.
- First Lien Leverage Ratio financial covenant reset to 4.00:1.00.
- Renewal executed via Thirteenth Amendment to the existing credit agreement.

## SEC filing metadata
- accession: 0000950142-23-002581
- form_type: 8-K
- ticker: OEC
- cik: 0001609804
- company_name: Orion S.A.
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1609804/000095014223002581/0000950142-23-002581-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1609804/000095014223002581/eh230409779_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-23-002581
- JSON: https://secwatch.observer/filing/0000950142-23-002581.json
- Plain text: https://secwatch.observer/filing/0000950142-23-002581.txt

## Key facts
- Debt Financings
  Orion S.A. amended revolving credit of €300,000,000 of commitments with Goldman Sachs Bank USA maturing September 24, 2028.
  - Instrument: revolving credit
  - Principal: €300,000,000 of commitments
  - Counterparty: Goldman Sachs Bank USA
  - Maturity: September 24, 2028
  - Event: amendment
  source text: as amended by the Thirteenth Amendment, the “Credit Agreement”). On the Closing Date, pursuant to the Thirteenth Amendment, the Borrower Representative, inter alia, (i) obtained €300,000,000 of commitments under an Incremental Revolving Facility (as defined in the Credit Agreement), which Incremental Revolving Facility refinanced and replaced the existing Revolving
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609804/000095014223002581/0000950142-23-002581-index.htm
- Material Agreements
  Orion S.A. amended Thirteenth Amendment with Goldman Sachs Bank USA valued at €300,000,000 Incremental Revolving Facility; maturity extended to September 24, 2028; interest rate (effective 2023-10-06).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Goldman Sachs Bank USA
  - Value: €300,000,000 Incremental Revolving Facility; maturity extended to September 24, 2028; interest rate
  - Effective: 2023-10-06
  source text: if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 Entry into a Material Definitive Agreement. Credit Agreement Amendment On October 6, 2023 (the “Closing Date”), Orion Engineered Carbons GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung) organized under the laws of Germany (the “Borrower Representative”), Goldman Sachs Bank USA, in its capacity as administrative agent (together with its successors and assigns in such capacity, the “Administrative Agent”), UniCredit Bank AG as sole coordinator, book runner and mandated lead arranger and sustainability coordinator (in such capacities, the “Amendment Arranger”) and the other Loan Parties party thereto entered into that certain thirteenth amendment (the “Thirteenth Amendment”), which amends the credit agreement originally dated as of July 25, 2014, as amended o
  evidence_url: https://www.sec.gov/Archives/edgar/data/1609804/000095014223002581/0000950142-23-002581-index.htm

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