Allison Transmission amends credit agreement to replace LIBOR with SOFR benchmark

Allison Transmission Holdings Inc

Amendment No. 3 to Second Amended and Restated Credit Agreement dated Feb 28, 2023.
Replaces LIBOR with Term SOFR plus 0.10% credit spread adjustment for all interest periods.
No other material changes to credit agreement terms; existing LIBOR loans continue until March 23, 2023.
Effective upon satisfaction of conditions, including no objection from required lenders.

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

Allison Transmission Holdings Inc amended Amendment No. 3 with Citibank N.A., as administrative agent (effective 2023-02-28).

Action: amendment
Agreement: credit facility
Counterparty: Citibank N.A., as administrative agent
Effective: 2023-02-28

Exact text from the filing

On February 28, 2023, Allison Transmission Holdings, Inc. (the “Company”), Allison Transmission, Inc., a wholly owned subsidiary of the Company (the “Borrower”), and Citibank N.A., as administrative agent (the “Administrative Agent”), entered into Amendment No. 3 (the “Amendment”) to the Second Amended and Restated Credit Agreement

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Source: SEC EDGAR

accession 0001193125-23-061359

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