---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-254683"
form_type: "8-K"
ticker: "KOP"
cik: "0001315257"
company_name: "Koppers Holdings Inc."
filed_at: "2023-10-12T23:59:59+00:00"
generated_at: "2026-06-10T00:32:28.597432+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Koppers reprices $399M Term Loan B, reducing interest margin by 50 bps

## Summary
- Term Loan B principal unchanged at $399M; maturity remains April 10, 2030.
- Interest rate margin cut from 4.00% + 50 bps floor to 3.50% + 50 bps floor for SOFR loans.
- Transaction is leverage-neutral with no changes to covenants or maturity.
- Wells Fargo serves as administrative agent; joint lead arrangers include Wells Fargo Securities, PNC, BofA, Fifth Third, Citizens, Truist.
- CFO Jimmi Sue Smith cites strong market demand and consistent capital structure optimization.

## SEC filing metadata
- accession: 0001193125-23-254683
- form_type: 8-K
- ticker: KOP
- cik: 0001315257
- company_name: Koppers Holdings Inc.
- filed_at: 2023-10-12T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1315257/000119312523254683/0001193125-23-254683-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1315257/000119312523254683/d520430d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-254683
- JSON: https://secwatch.observer/filing/0001193125-23-254683.json
- Plain text: https://secwatch.observer/filing/0001193125-23-254683.txt

## Key facts
- Debt Financings
  Koppers Holdings Inc. amended term loan of $399,000,000 with PNC Bank, National Association at 3.50% with a floor of 50 basis points (0.50%), in the case of adjusted Term SOFR maturing April 10, 2030.
  - Instrument: term loan
  - Principal: $399,000,000
  - Counterparty: PNC Bank, National Association
  - Rate: 3.50% with a floor of 50 basis points (0.50%), in the case of adjusted Term SOFR
  - Maturity: April 10, 2030
  - Event: amendment
  source text: Amendment No. 2 reduces the interest rate margins applicable to the $399,000,000 senior secured term loan facility under the Credit Agreement (the “Term Loan B”) by 50 basis points from 4.00% with a floor of 50 basis points (0.50%) to 3.50% with a floor of 50 basis points (0.50%), in the case of adjusted Term SOFR Rate or adjusted Daily Simple SOFR loans, and from 3.00% with a floor of 1.50% to 2.50% with a floor of 1.50%, in the case of alternate base rate loans.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315257/000119312523254683/0001193125-23-254683-index.htm
- Material Agreements
  Koppers Holdings Inc. amended Amendment No. 2 to the Credit Agreement with Koppers Inc., Koppers Holdings Inc., certain lenders and letter of credit issuers, PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent (effective 2023-10-11).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Koppers Inc., Koppers Holdings Inc., certain lenders and letter of credit issuers, PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent
  - Effective: 2023-10-11
  source text: On October 11, 2023 (the “Closing Date”), Koppers Inc. (“Koppers” or the “Company”), a wholly-owned subsidiary of Koppers Holdings Inc. (“Holdings”), entered into Amendment No. 2 (“Amendment No. 2”) to the Credit Agreement, dated June 17, 2022, with Holdings, certain lenders and letter of credit issuers, PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent (as amended by that certain Amendment No. 1, dated April 10, 2023, the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315257/000119312523254683/0001193125-23-254683-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.