secwatch.observer — SEC 8-K summary
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Issuer:     Thermon Group Holdings, Inc. (THR)
CIK:        0001489096
Form:       8-K
Filed at:   2021-09-30T23:59:59+00:00
Accession:  0001104659-21-121246
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Thermon refinances debt, estimates $4M annual cash interest savings
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- Replaced $140M term loan B with $80M US term loan A, CAD76M Canadian term loan A, and $100M revolver – expects ~$4M annual cash interest savings.
- New 5-year facilities mature September 2026; quarterly amortization starts Jan 2022 at 1.25% per quarter.
- Leverage ratio covenant: max 3.75:1 through Sep 2022, then 3.50:1; fixed charge coverage ≥1.25:1.
- Acquisition holiday allows temporarily increased leverage following certain acquisitions.
- Pricing: adjusted LIBOR +162.5bps on US loans; CDOR +162.5bps on Canadian loans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1489096/000110465921121246/0001104659-21-121246-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1489096/000110465921121246/tm2128850d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-121246

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