secwatch.observer — SEC 8-K summary
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Issuer:     MODINE MANUFACTURING CO (MOD)
CIK:        0000067347
Form:       8-K
Filed at:   2025-07-16T23:59:59+00:00
Accession:  0001558370-25-009258
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Modine enters $600M credit facility with enhanced leverage covenants; real property collateral released
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- $400M revolver and $200M term loan; maturity extended to July 2030 (from Oct 2027).
- Net leverage covenant raised to 3.50x from 3.25x; can be temporarily increased to 4.00x for acquisitions.
- Restructuring charge baskets increased to $30M/yr ($90M total) plus $25M/yr ($55M total) for auto exit.
- Existing real property mortgages released; real property excluded from collateral under new facility.
- Fifth Amendment conforms Note Agreement terms to the new credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/67347/000155837025009258/0001558370-25-009258-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/67347/000155837025009258/mod-20250710x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-009258

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