ASHLAND INC. (ASH): debt financing — Ashland amends receivables facility: increases cap to $115M during peak season, extends maturity to 2025

ASHLAND INC.

Facility limit raised to $115M for April-October and $100M otherwise; termination extended to April 14, 2025.
Yield on investments set at commercial paper rate or Term SOFR/Daily 1M SOFR plus adjustment, floor 0%.
Second amendment releases Ashland Inc. as originator under the Purchase and Sale Agreement.
PNC Bank and Fifth Third Bank remain purchasers; PNC is administrative agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

ASHLAND INC. amended debt of up to $115 million between April and October of each year, and up to $100 million at all other times with PNC Bank, National Association and Fifth Third Bank, National Association at a fluctuating rate that is either the applicable commercial paper rate (as defin maturing April 14, 2025.

Principal: up to $115 million between April and October of each year, and up to $100 million at all other times
Counterparty: PNC Bank, National Association and Fifth Third Bank, National Association
Rate: a fluctuating rate that is either the applicable commercial paper rate (as defin
Maturity: April 14, 2025
Event: amendment

Exact text from the filing

Pursuant to the Third Amendment, the accounts receivable securitization facility under the RPA will be in an amount of up to $115 million between April and October of each year, and up to $100 million at all other times.

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Source: SEC EDGAR

accession 0000950170-23-013659

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