Quanex amends credit agreement to add $500M term loan and $475M revolver for Tyman acquisition

Quanex Building Products CORP

Amended credit agreement increases revolving credit facility to $475M and adds a $500M term loan A facility.
Proceeds from new facilities will partially fund the previously announced acquisition of Tyman plc.
Maturity date of facilities is five years after initial funding; term loan amortizes at 5% per annum.
Borrowings bear interest at Base Rate or Adjusted Term SOFR plus applicable margins (1.000%-1.750% for Base Rate, 2.000-2.750% for SOFR).
Facilities guaranteed by material U.S. subsidiaries and secured by first-priority liens on substantially all assets.

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