Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Element Solutions Inc incurred term loan of $1,150 million with Citibank, N.A., as collateral agent and administrative agent at Term SOFR plus a spread of 2.00% per annum maturing December 18, 2030.
- Instrument
- term loan
- Principal
- $1,150 million
- Counterparty
- Citibank, N.A., as collateral agent and administrative agent
- Rate
- Term SOFR plus a spread of 2.00% per annum
- Maturity
- December 18, 2030
- Event
- incurrence
Exact text from the filing
Amendment No. 8 provided for the repayment in full of the Company's existing $150 million tranche A term loans (the "Existing TLAs") and the refinancing of its existing $1,105 million tranche B term loans (the "Existing TLBs") by creating a new tranche B-2 of term loans denominated in U.S. dollars in an aggregate principal amount of $1,150 million (the "Refinanced TLBs").
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Michael Goralski retired as Executive Vice President, Head of Industrial & Specialty at Element Solutions Inc.
- Action
- retired
- Role
- Executive Vice President, Head of Industrial & Specialty
Exact text from the filing
Michael Goralski, a named executive officer of the Company, retired as Executive Vice President, Head of Industrial & Specialty, effective December 31, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.98
Element Solutions Inc amended Amendment No. 8 and Joinder to Credit Agreement with Citibank, N.A. valued at $1,150,000,000 Refinanced TLBs; interest at Term SOFR plus 2.00% or base rate plus 1.00% (effective 2023-12-18).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- Citibank, N.A.
- Value
- $1,150,000,000 Refinanced TLBs; interest at Term SOFR plus 2.00% or base rate plus 1.00%
- Effective
- 2023-12-18
Exact text from the filing
On December 18, 2023, Element Solutions Inc (the "Company"), MacDermid, Incorporated ("MacDermid," and together with the Company, the "Borrowers"), certain subsidiaries of the Company party thereto, Citibank, N.A., as collateral agent and administrative agent (the "Agent"), and the lenders party thereto, entered into an Amendment No. 8 and Joinder to Credit Agreement ("Amendment No. 8"), which amended that certain credit agreement, dated as of January 31, 2019 (as amended and/or supplemented from time to time, the “Credit Agreement”), among the Borrowers, certain subsidiaries of the Company from time to time parties thereto, the Agent and the lending institutions from time to time parties thereto.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Element Solutions Inc entered into ISDA Master Agreements for Swaps with certain banks included in the syndicate of the Refinanced TLBs (the Hedge Counterparties) valued at approximately $760 million notional; fixed EUR all-in rate of 4.31% (effective 2023-12-18).
- Action
- entry
- Counterparty
- certain banks included in the syndicate of the Refinanced TLBs (the Hedge Counterparties)
- Value
- approximately $760 million notional; fixed EUR all-in rate of 4.31%
- Effective
- 2023-12-18
Exact text from the filing
The Company subsequently entered into new interest rate and cross-currency swap transactions (the "Swaps") with certain banks included in the syndicate of the Refinanced TLBs (the "Hedge Counterparties").
View on SEC.gov