secwatch.observer — SEC 8-K summary
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Issuer:     TENNANT CO (TNC)
CIK:        0000097134
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0001104659-22-119814
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/97134/000110465922119814/0001104659-22-119814-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/97134/000110465922119814/tm2230771d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-119814

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