Turning Point Brands amends credit agreement to replace LIBOR with SOFR effective July 1, 2023

Turning Point Brands, Inc.

Amendment replaces LIBOR with Term SOFR as interest rate benchmark under secured revolving credit facility.
Effective July 1, 2023; existing LIBOR-based loans continue until their current interest periods end.
All other credit agreement provisions confirmed; no changes to credit limits, covenants, or financial terms.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Turning Point Brands, Inc. entered into Amendment to Revolving Credit Agreement dated February 11, 2021 with Barclays Bank PLC, as administrative agent and collateral agent valued at Amendment to secured revolving credit facility (effective 2023-05-10).

Action: entry
Agreement: credit facility
Counterparty: Barclays Bank PLC, as administrative agent and collateral agent
Value: Amendment to secured revolving credit facility
Effective: 2023-05-10

Exact text from the filing

On May 10, 2023, Turning Point Brands, Inc. (the “Company”) and certain of its subsidiaries, as guarantors, entered into an amendment (the “Amendment”) to the revolving credit agreement governing the Company’s secured revolving credit facility, dated as of February 11, 2021 (the “Credit Agreement”) by and among the Company, the obligors party thereto, Barclays Bank PLC, as administrative agent and collateral agent , and the lenders party thereto.

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Turning Point Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-025010

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