Gentherm enters $550M secured revolving credit facility, amends prior agreement

Gentherm Inc

$550M secured revolving credit facility with $50M swing line and $30M letter of credit sublimits.
Interest rate margins range from 1.125% to 2.000% over SOFR (or other benchmarks) based on leverage ratio.
Commitment fees range from 0.150% to 0.250% per annum based on consolidated net leverage ratio.
Financial covenants include minimum interest coverage ratio and maximum net leverage ratio.
Obligations secured by substantially all assets of US borrowers and guaranteed by domestic subsidiaries.

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