---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-095544"
form_type: "8-K"
ticker: "KOP"
cik: "0001315257"
company_name: "Koppers Holdings Inc."
filed_at: "2024-04-15T23:59:59+00:00"
generated_at: "2026-06-03T22:50:11.239395+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Koppers reprices and upsizes Term Loan B by $100M, reduces interest margin 50 bps

## Summary
- TLB increased by $100M to $497M; proceeds for general corporate purposes and to reduce revolver borrowings.
- Interest rate margin reduced 50 bps to 3.00% (SOFR) with 0.50% floor; 10 bps credit spread adjustment removed.
- Company intends to repay recent borrowings related to acquisition of Brown Wood Preserving.
- Chief Financial Officer Jimmi Sue Smith cites enhanced liquidity and financial flexibility.

## SEC filing metadata
- accession: 0001193125-24-095544
- form_type: 8-K
- ticker: KOP
- cik: 0001315257
- company_name: Koppers Holdings Inc.
- filed_at: 2024-04-15T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1315257/000119312524095544/0001193125-24-095544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1315257/000119312524095544/d818182d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-095544
- JSON: https://secwatch.observer/filing/0001193125-24-095544.json
- Plain text: https://secwatch.observer/filing/0001193125-24-095544.txt

## Key facts
- Debt Financings
  Koppers Holdings Inc. incurred term loan of $100,000,000 with PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent at adjusted Term SOFR Rate or adjusted Daily Simple SOFR loans at 3.00 percent with.
  - Instrument: term loan
  - Principal: $100,000,000
  - Counterparty: PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent
  - Rate: adjusted Term SOFR Rate or adjusted Daily Simple SOFR loans at 3.00 percent with
  - Event: incurrence
  source text: provides for the incurrence of incremental term loans in an aggregate principal amount of $100,000,000 to be used for general corporate purposes, thereby increasing the aggregate principal amount of the term loan facility to $497,005,000 (the “Term Loan B Facility”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315257/000119312524095544/0001193125-24-095544-index.htm
- Debt Financings
  Koppers Holdings Inc. amended credit facility at reduces the interest rate margins applicable to the Term Loan B Facility by 50 b.
  - Instrument: credit facility
  - Rate: reduces the interest rate margins applicable to the Term Loan B Facility by 50 b
  - Event: amendment
  source text: effectively reduces the interest rate margins applicable to the Term Loan B Facility by 50 basis points from 3.50 percent with a floor of 50 basis points (0.50 percent) to 3.00 percent with a floor of 50 basis points (0.50 percent), in the case of adjusted Term SOFR Rate or adjusted Daily Simple SOFR loans, and from 2.50 percent with a floor of 1.50 percent to 2.00 percent with a floor of 1.50 percent, in the case of alternate base rate loans; and (iii) removes the credit spread adjustment of 10 basis points (0.10 percent) for the Term Loan B Facility
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315257/000119312524095544/0001193125-24-095544-index.htm
- Material Agreements
  Koppers Holdings Inc. amended Amendment No. 3 with PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent valued at $100,000,000 (effective 2024-04-12).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association, as revolving administrative agent, collateral agent and swingline loan lender, and Wells Fargo Bank, National Association, as term administrative agent
  - Value: $100,000,000
  - Effective: 2024-04-12
  source text: On April 12, 2024 (the “Closing Date”), Koppers Inc. (“Koppers” or the “Company”), a wholly-owned subsidiary of Koppers Holdings Inc. (“Holdings”), entered into Amendment No. 3 (“Amendment No. 3”) 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 and that certain Amendment No. 2, dated October 11, 2023, the “Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1315257/000119312524095544/0001193125-24-095544-index.htm

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