Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Loar Holdings Inc. amended credit facility of $100 million of new delayed draw term commitments and $50 million of new revolving credit commitments with First Eagle Alternative Credit, LLC at reduce the applicable margin applicable to term loans thereunder from 7.25% to 4 maturing term loans: May 10, 2030; revolving credit: May 10, 2029.
- Instrument
- credit facility
- Principal
- $100 million of new delayed draw term commitments and $50 million of new revolving credit commitments
- Counterparty
- First Eagle Alternative Credit, LLC
- Rate
- reduce the applicable margin applicable to term loans thereunder from 7.25% to 4
- Maturity
- term loans: May 10, 2030; revolving credit: May 10, 2029
- Event
- amendment
Exact text from the filing
pursuant to which, among other things, the Company amended its existing credit agreement to (i) extend the maturity date applicable to term loans thereunder to May 10, 2030, (ii) reduce the applicable margin applicable to term loans thereunder from 7.25% to 4.75% (with two 25 basis point step ups based on the Company’s total net leverage ratio), (iii) replacing the existing delayed draw term loan commitments available thereunder with $100 million of new delayed draw term commitments available to be drawn on or prior to May 10, 2026 and (iv) replacing the revolving credit commitments thereunder with $50 million of new revolving credit commitments, which have a maturity date of May 10, 2029 and an undrawn commitment fee of 0.375% per annum.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Loar Holdings Inc. amended Fifteenth Amendment to Credit Agreement and First Amendment to Security Agreement with First Eagle Alternative Credit, LLC, as administrative agent for the lenders and as collateral agent for the secured parties, and Citibank, N.A., as the revolving administrative agent valued at $100 million of new delayed draw term commitments (effective 2024-05-10).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- First Eagle Alternative Credit, LLC, as administrative agent for the lenders and as collateral agent for the secured parties, and Citibank, N.A., as the revolving administrative agent
- Value
- $100 million of new delayed draw term commitments
- Effective
- 2024-05-10
Exact text from the filing
On May 10, 2024, Loar Holdings Inc. (the “Company”), Loar Group Inc., certain subsidiary guarantors, certain lenders, First Eagle Alternative Credit, LLC, as administrative agent for the lenders and as collateral agent for the secured parties, and Citibank, N.A., as the revolving administrative agent, entered into the Fifteenth Amendment to Credit Agreement and First Amendment to Security Agreement (the “Credit Agreement Amendment” and the existing credit agreement as amended thereby, the “Credit Agreement”)
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