Napco Security amends credit agreement, extends term to 2029 and doubles revolver to $20M

NAPCO SECURITY TECHNOLOGIES, INC

Term of revolving credit facility extended from June 2024 to February 9, 2029.
Revolving credit line increased from $11 million to $20 million.
LIBOR benchmark replaced with SOFR benchmark rate under the amended agreement.
Agreement with HSBC Bank USA, effective February 9, 2024.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NAPCO SECURITY TECHNOLOGIES, INC amended Fourth Amended and Restated Credit Agreement with HSBC Bank USA National Association valued at $20,000,000 (effective 2024-02-09).

Action: amendment
Agreement: credit facility
Counterparty: HSBC Bank USA National Association
Value: $20,000,000
Effective: 2024-02-09

Exact text from the filing

On February 9, 2024 the Registrant and its primary bank, HSBC Bank USA National Association (“HSBC”), agreed to amend and restate the existing Third Amended and Restated Credit Agreement (“Agreement”) dated June 29, 2012, as amended, between the Registrant and HSBC with the Fourth Amended and Restated Credit Agreement (“Amended Agreement”).

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NAPCO SECURITY TECHNOLOGIES, INC filing history →

Source: SEC EDGAR

accession 0001558370-24-001041

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