FreightCar America subsidiary pays $4.48M to settle M&T credit agreement, terminates forbearance

FreightCar America, Inc.

FreightCar America Leasing paid $4,480,000 to M&T Bank to satisfy obligations under a credit agreement that matured April 2021.
Payment funded by sale of railcars and related leases to a third party; lessee payments to M&T were made timely.
As a result, the M&T Credit Agreement, related documents, and Forbearance Agreement are terminated; obligations deemed satisfied in full.

item 1.02

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

FreightCar America, Inc. terminated M&T Credit Agreement with M & T Bank, N.A. (effective 2023-06-30).

Action: termination
Agreement: credit facility
Counterparty: M & T Bank, N.A.
Effective: 2023-06-30

Exact text from the filing

FCA Leasing’s obligations under the M&T Credit Agreement are deemed satisfied in full and the M&T Credit Agreement and all other Credit Documents (as defined in the M&T Credit Agreement), as well as the Forbearance Agreement, are terminated.

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FreightCar America, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-031141

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