ACCO Brands amends credit agreement, temporarily raises leverage covenant to 5.00x

ACCO BRANDS Corp

Sixth Amendment to Credit Agreement executed Nov 7, 2022; eases leverage constraints through 2023.
Max leverage ratios: 4.50x (Dec 2022), 5.00x (Mar/Jun 2023), 4.75x (Sep 2023), 4.25x (Dec 2023).
Post-2023: 4.50x for Q1/Q2, 4.00x for Q3/Q4; acquisition step-ups capped at 5.00x.
Reference rate switched from LIBOR to SOFR; removed anti-cash hoarding provision.

item 1.01 item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

ACCO BRANDS Corp reported financial results for for the period ended September 30, 2022.

Period: for the period ended September 30, 2022
Result: reported results

Exact text from the filing

On November 7, 2022, ACCO Brands Corporation (the "Company") announced its results for the period ended September 30, 2022.

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

ACCO BRANDS Corp amended Sixth Amendment with Bank of America, N.A. (effective 2022-11-07).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A.
Effective: 2022-11-07

Exact text from the filing

Effective November 7, 2022, ACCO Brands Corporation (the “ Company ”) entered into a Sixth Amendment (the “ Sixth Amendment ”) to its Third Amended and Restated Credit Agreement

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ACCO BRANDS Corp filing history →

Source: SEC EDGAR

accession 0000950170-22-022635

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