---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-119814"
form_type: "8-K"
ticker: "TNC"
cik: "0000097134"
company_name: "TENNANT CO"
filed_at: "2022-11-17T23:59:59+00:00"
generated_at: "2026-06-21T17:12:19.445538+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Tennant Company amends 2021 credit facility to replace LIBOR with Term SOFR as reference rate

## Summary
- Amendment to 2021 credit agreement dated Nov 10, 2022 replaces LIBOR with Term SOFR plus 0.10% credit spread for USD borrowings.
- USD loans bear interest at Term SOFR + 0.10% + margin of 1.10%-1.70% based on leverage ratio.
- Alternate Base Rate also available: greatest of prime rate, federal funds rate+0.50%, or adjusted Term SOFR+1%, plus spread of 0.10%-0.70%.
- All other material terms of the 2021 credit agreement remain unchanged.

## SEC filing metadata
- accession: 0001104659-22-119814
- form_type: 8-K
- ticker: TNC
- cik: 0000097134
- company_name: TENNANT CO
- filed_at: 2022-11-17T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/97134/000110465922119814/0001104659-22-119814-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/97134/000110465922119814/tm2230771d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-119814
- JSON: https://secwatch.observer/filing/0001104659-22-119814.json
- Plain text: https://secwatch.observer/filing/0001104659-22-119814.txt

## Key facts
- Debt Financings
  TENNANT CO amended credit facility with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus a credit spread adjustment of 0.10% per annum, but in any ca.
  - Instrument: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: Term SOFR Rate plus a credit spread adjustment of 0.10% per annum, but in any ca
  - Event: amendment
  source text: The Amendment updates the benchmark provisions to replace LIBOR with Term SOFR as the reference rate for purposes of calculating interest under the 2021 Credit Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/97134/000110465922119814/0001104659-22-119814-index.htm
- Material Agreements
  TENNANT CO amended Amendment No. 1 with JPMorgan Chase Bank, N.A. and the other financial institutions party thereto (effective 2022-11-10).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A. and the other financial institutions party thereto
  - Effective: 2022-11-10
  source text: On November 10, 2022, Tennant Company (the “Company”) entered into an Amendment No. 1 (the “Amendment”) with the financial institutions party thereto and JPMorgan Chase Bank, N. A., as administrative agent (the “Agent”) to amend that certain Amended and Restated Credit Agreement dated as of April 5, 2021 by and among the Company, the Foreign Subsidiary Borrowers from time to time party thereto, the financial institutions from time to time party thereto and the Agent (the “2021 Credit Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/97134/000110465922119814/0001104659-22-119814-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.