secwatch.observer — SEC 8-K summary
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Issuer:     TREDEGAR CORP (TG)
CIK:        0000850429
Form:       8-K
Filed at:   2023-12-28T23:59:59+00:00
Accession:  0001193125-23-304471
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tredegar amends credit facility to $180M, then $125M after flexible packaging sale
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- Initial $180M commitment, declining to $125M upon sale of flexible packaging films business (ABL Adjustment Date).
- Borrowing availability at closing ~$29.7M; ~$19.7M after minimum liquidity covenant.
- Interest: SOFR+3.5% before ABL Adjustment; thereafter spreads reset.
- Covenants: minimum EBITDA schedule (e.g., $22M Nov 2023) and $10M minimum liquidity; post-sale triggers 1.0x fixed charge coverage.
- Company and guarantors pledged substantially all assets as collateral under new Security Agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/850429/000119312523304471/0001193125-23-304471-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/850429/000119312523304471/d468304d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-304471

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