Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
FGI Industries Ltd. amended credit facility of $18 million with East West Bank at Prime Rate minus 0.25% or SOFR plus 2.20% (min 4.500%) maturing December 21, 2024.
- Instrument
- credit facility
- Principal
- $18 million
- Counterparty
- East West Bank
- Rate
- Prime Rate minus 0.25% or SOFR plus 2.20% (min 4.500%)
- Maturity
- December 21, 2024
- Event
- amendment
Exact text from the filing
On November 25, 2022, FGI Industries, Inc. (“FGI Industries”), a wholly owned subsidiary of FGI Industries Ltd. (the “Company”), entered into a Business Loan Agreement (the “Restated Credit Agreement”) with East West Bank, which amended and restated FGI Industries’ existing line of credit. Under the Restated Credit Agreement, FGI Industries may borrow, from time to time, up to $18 million at an interest rate equal to, at its option, either (i) 0.25 percentage points less than the Prime Rate quoted by the Wall Street Journal or (ii) the SOFR Rate (as administered by CME Group Benchmark Administration Limited and displayed by Bloomberg LP) plus 2.20% per annum (in either case, subject to a minimum rate of 4.500% per annum). Borrowings under the Restated Credit Agreement have a maturity date of December 21, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
FGI Industries Ltd. amended Restated Credit Agreement with East West Bank valued at $18 million (effective 2022-11-25).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- East West Bank
- Value
- $18 million
- Effective
- 2022-11-25
Exact text from the filing
On November 25, 2022, FGI Industries, Inc. (“FGI Industries”), a wholly owned subsidiary of FGI Industries Ltd. (the “Company”), entered into a Business Loan Agreement (the “Restated Credit Agreement”) with East West Bank, which amended and restated FGI Industries’ existing line of credit.
View on SEC.gov