Thermon amends credit agreement: replaces LIBOR with SOFR, adds covenants for divestment

Thermon Group Holdings, Inc.

Replaced LIBOR with Term SOFR as benchmark rate; technical updates for Term Benchmark and RFR Loans.
Added baskets to asset sale and affiliate transaction covenants to permit divestment of Thermon Eurasia LLC.
Added two financial covenants: US/Canadian loan parties must have ≥75% of total revenue and assets of the consolidated group.
Bank guarantees from any Loan Party to a Lender/affiliate now included in secured Obligations.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Thermon Group Holdings, Inc. amended Amendment No. 2 to Credit Agreement, Amendment No. 1 to the Guarantee and Collateral Agreement and Amendment No. 1 to the Canadian Guarantee and Collateral Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, and the Lenders (effective 2023-03-07).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent, and the Lenders
Effective: 2023-03-07

Exact text from the filing

On March 7, 2023, the Company, the US Borrower and the Canadian Borrower entered into an Amendment No. 2 to Credit Agreement, Amendment No. 1 to the Guarantee and Collateral Agreement and Amendment No. 1 to the Canadian Guarantee and Collateral Agreement (collectively, the “Amendment”) with the Lenders and the Agent.

View on SEC.gov

197 material agreements filed in the last 30 days. Browse all material agreements →

Thermon Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-030609

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.