Garrett Motion reprices $635M term loan, rate cut 25bps to SOFR+175bps, repays $50M early

Garrett Motion Inc.

Interest rate on $635M term loan reduced 25 bps to SOFR + 175 bps, effective May 18, 2026.
Company made a $50M early repayment on the term loan due 2032.
Second Amendment resets 1.00% soft call protection on repricing transactions for six months.
CEO Olivier Rabiller says repricing reflects lender confidence and will reduce interest expense.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Garrett Motion Inc. amended Amendment No. 2 with JPMorgan Chase Bank, N.A., as administrative agent (effective 2026-05-18).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Effective: 2026-05-18

Exact text from the filing

On May 18, 2026, Garrett Motion Inc. (the “Company”) entered into Amendment No. 2 (the “Second Amendment”) to that certain Amended and Restated Credit Agreement, dated as of January 30, 2025, by and among the Company, Garrett Motion Holdings Inc., Garrett LX I S.à r.l., Garrett Motion Sàrl, the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent

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Garrett Motion Inc. filing history →

Source: SEC EDGAR

accession 0000950142-26-001458

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