secwatch.observer — SEC 8-K summary
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Issuer:     AMPCO PITTSBURGH CORP (AP)
CIK:        0000006176
Form:       8-K
Filed at:   2021-07-01T23:59:59+00:00
Accession:  0001193125-21-206328
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ampco-Pittsburgh closes $100M asset-backed revolver with $30M accordion
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- Entered into $100M five-year senior secured asset-backed revolving credit facility, maturing June 29, 2026.
- Facility includes a $30M accordion feature, allowing increase to $130M with lender approval.
- Interest rates at LIBOR + 2.00-2.50% or base rate + 1.00-1.50%; sublimits for LCs ($40M) and European borrowings ($30M).
- Borrowers include Air & Liquid Systems, Union Electric Steel, Akers National Roll, and others; PNC Bank remains administrative agent.
- CFO says facility provides increased liquidity, greater flexibility, and lower cost, supporting market recovery and growth plans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6176/000119312521206328/0001193125-21-206328-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6176/000119312521206328/d198690d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-206328

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