Knowles amends credit agreement to permit $122.9M seller note for Cornell Dubilier acquisition

Knowles Corp

Amendment permits Knowles to incur up to $122.9M seller note secured by assets acquired in Cornell Dubilier acquisition.
Seller note matures two years from effective date; collateral pledge under credit agreement extended to 90 days after maturity.
Dispositions and investments into Knowles PD Holdings and acquired subsidiaries capped at $80M aggregate until note maturity.

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

Knowles Corp amended Amendment No. 1 with JPMorgan Chase Bank, N.A., as administrative agent valued at US$122,900,000 (effective 2023-09-25).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Value: US$122,900,000
Effective: 2023-09-25

Exact text from the filing

On September 25, 2023, Knowles Corporation (the “Company”) entered into Amendment No. 1 (the “Amendment”) to Amended and Restated Credit Agreement among the Company, JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), and a syndicate of other financial institutions (the “Lenders”) named therein (the “Credit Agreement”).

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Source: SEC EDGAR

accession 0001587523-23-000077

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