secwatch / observer
8-K filed November 9, 2022, 6:59 PM ET ticker CLW CIK 0001441236
debt confidence high sentiment neutral materiality 0.55

Clearwater Paper Corp (CLW): debt financing — Clearwater Paper increases ABL facility to $275M, extends maturity to Nov 7, 2027

Clearwater Paper Corp

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Clearwater Paper Corp amended revolving credit of from $250 million to $275 million with JPMorgan Chase Bank, N.A., as administrative agent at replace LIBOR with a SOFR-based rate maturing extended to November 7, 2027.

Instrument
revolving credit
Principal
from $250 million to $275 million
Counterparty
JPMorgan Chase Bank, N.A., as administrative agent
Rate
replace LIBOR with a SOFR-based rate
Maturity
extended to November 7, 2027
Event
amendment
Exact text from the filing
the maximum commitment of the lenders (subject to borrowing base limitations) under the ABL Credit Agreement was increased from $250 million to $275 million, the maturity date was extended to November 7, 2027 and provisions were added to replace LIBOR with a SOFR-based rate as one of the benchmark rates at which loans under the ABL Credit Agreement may bear interest.
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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Clearwater Paper Corp amended ABL Credit Agreement with JPMorgan Chase Bank, N.A. valued at from $250 million to $275 million (effective 2022-11-07).

Action
amendment
Agreement
credit facility
Counterparty
JPMorgan Chase Bank, N.A.
Value
from $250 million to $275 million
Effective
2022-11-07
Exact text from the filing
On November 7, 2022, Clearwater Paper Corporation, a Delaware corporation (the “Company”) entered into an amendment (the “Amendment”) to its ABL Credit Agreement dated July 26, 2019, among the Company, as borrower, the several lenders from time to time parties thereto and JPMorgan Chase Bank, N.A., as administrative agent (as amended, the “ABL Credit Agreement”).
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Clearwater Paper Corp filing history →

Source: SEC EDGAR
accession 0001504337-22-000032
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