AMPCO PITTSBURGH CORP (AP): debt financing — Ampco-Pittsburgh closes $100M revolver and $13.5M term loan; maturity 2030

AMPCO PITTSBURGH CORP

New $100M asset-based revolver, expandable to $125M, matures June 25, 2030.
$13.5M term loan drawn at close; proceeds used to reduce revolver borrowings.
Interest rates: SOFR + 2.00%-2.50% on revolver, +3.00%-3.50% on term loan.
Joint lead arrangers: PNC Capital Markets and F.N.B. Capital Markets; PNC Bank as agent.
Minimum Fixed Charge Coverage Ratio of 1.05x applies if excess availability threshold not met.

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

AMPCO PITTSBURGH CORP incurred term loan of $13,500,000 at SOFR plus an applicable margin ranging between 3.00% and 3.50%.

Instrument: term loan
Principal: $13,500,000
Rate: SOFR plus an applicable margin ranging between 3.00% and 3.50%
Event: incurrence

Exact text from the filing

Under the Credit Agreement, the Borrowers may also borrow up to $13,500,000 pursuant to senior secured term loans (the “Term Loans"). On the date of closing, $13,500,000 was advanced as Term Loans

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

AMPCO PITTSBURGH CORP incurred revolving credit of $100,000,000 at SOFR plus an applicable margin ranging between 2.00% and 2.50% maturing June 25, 2030.

Instrument: revolving credit
Principal: $100,000,000
Rate: SOFR plus an applicable margin ranging between 2.00% and 2.50%
Maturity: June 25, 2030
Event: incurrence

Exact text from the filing

The Credit Agreement provides for a $100,000,000 senior secured asset-based revolving credit facility (the “Revolving Facility")

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Source: SEC EDGAR

accession 0000950170-25-090898

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