{"schema_version":"secwatch.filing_event.v1","accession":"0001590714-26-000003","form_type":"8-K","ticker":"ESI","cik":"0001590714","company_name":"Element Solutions Inc","filed_at":"2026-02-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.563196+00:00","generated_at":"2026-05-16T05:36:31.435534+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Element Solutions closes ~$500M Micromax buy, raises $450M term loan, upsizes revolver","bullets":["Closed Micromax acquisition on Feb 2, 2026 for approx. $500M; funded by $450M incremental term loan plus cash.","Added $450M to existing term loan B (due Dec 2030) at Term SOFR + 1.75% p.a.; swapped $350M into fixed-rate EUR debt.","New $500M revolver upsized by $125M, maturity extended to Feb 2, 2031; bears SOFR + 1.50% or Base + 0.50%.","CEO cited Micromax had high-single digit organic revenue growth in 2025; acquisition enhances Electronics portfolio.","Entered interest rate and cross-currency swaps to fix EUR debt through Dec 2029."],"urls":{"canonical":"https://secwatch.observer/filing/0001590714-26-000003","json":"https://secwatch.observer/filing/0001590714-26-000003.json","markdown":"https://secwatch.observer/filing/0001590714-26-000003.md","text":"https://secwatch.observer/filing/0001590714-26-000003.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1590714/000159071426000003/0001590714-26-000003-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1590714/000159071426000003/esi-20260202.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T05:36:31.435534+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"19a4c1b4a53976839d16056764946f9c85bfa541","claim":"Element Solutions Inc incurred revolving credit of $500 million at Term SOFR, Adjusted EURIBO Rate or Daily Simple RFR (each as defined in the Cred maturing February 2, 2031.","evidence_excerpt":"Amendment No. 10 provided for (i) an incremental term facility for new U.S. Dollar denominated term loans (the \"New Term Loans\") in an aggregate principal amount of $450 million with such New Term Loans established as an increase to, and fungible with, the Company's existing $836 million tranche B U.S. Dollar denominated term loans (the \"Existing Term Loans\" and together with the New Term Loans, the \"Term Loans\") and (ii) a new revolving credit facility in an aggregate principal amount of $500 million (the \"New Revolving Credit Facility\"), which replaced the $375 million revolving credit facility in effect immediately prior to the Effective Date (the \"Initial Revolving Credit Facility\"), thereby upsizing the Initial Revolving Credit Facility by $125 million and also extending its maturity to February 2, 2031.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1590714/000159071426000003/0001590714-26-000003-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$500 million"},{"label":"Rate","value":"Term SOFR, Adjusted EURIBO Rate or Daily Simple RFR (each as defined in the Cred"},{"label":"Maturity","value":"February 2, 2031"},{"label":"Event","value":"incurrence"}]},{"claim_id":"26cb30c239d1a1ebcf10005c2aea710079e10875","claim":"Element Solutions Inc incurred term loan of $450 million at Term SOFR (as defined in the Credit Agreement), subject to a rate floor of 0%, p maturing December 18, 2030.","evidence_excerpt":"Amendment No. 10 provided for (i) an incremental term facility for new U.S. Dollar denominated term loans (the \"New Term Loans\") in an aggregate principal amount of $450 million with such New Term Loans established as an increase to, and fungible with, the Company's existing $836 million tranche B U.S. Dollar denominated term loans (the \"Existing Term Loans\" and together with the New Term Loans, the \"Term Loans\") and (ii) a new revolving credit facility in an aggregate principal amount of $500 million (the \"New Revolving Credit Facility\"), which replaced the $375 million revolving credit facility in effect immediately prior to the Effective Date (the \"Initial Revolving Credit Facility\"), thereby upsizing the Initial Revolving Credit Facility by $125 million and also extending its maturity to February 2, 2031. The proceeds of the New Term Loans, together with available cash, were used to finance the purchase price of the previously-announced acquisition of Micromax, which closed on Febr","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1590714/000159071426000003/0001590714-26-000003-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$450 million"},{"label":"Rate","value":"Term SOFR (as defined in the Credit Agreement), subject to a rate floor of 0%, p"},{"label":"Maturity","value":"December 18, 2030"},{"label":"Event","value":"incurrence"}]},{"claim_id":"ed94a381521400ef7934af518083881d35118d9f","claim":"Element Solutions Inc entered an off-balance-sheet arrangement for term loan of $350 million maturing December 2029.","evidence_excerpt":"In connection with Amendment No. 10, the Company entered into new interest rate swaps and cross-currency swaps to effectively convert $350 million of the New Term Loans, a U.S. Dollar denominated debt obligation, into fixed-rate euro-denominated debt through December 2029.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1590714/000159071426000003/0001590714-26-000003-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$350 million"},{"label":"Maturity","value":"December 2029"},{"label":"Event","value":"off balance sheet"}]},{"claim_id":"03d3dd1948a430fc58566879fd1d70fed796b7b5","claim":"Element Solutions Inc amended Amendment No. 10 and Joinder to Credit Agreement with Citibank, N.A. valued at $450 million New Term Loans and $500 million New Revolving Credit Facility, upsizing by $125 million (effective 2026-02-02).","evidence_excerpt":"Incremental Term Loans & Revolver Upsize On February 2, 2026 (the \"Effective Date\"), 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. 10 and Joinder to Credit Agreement (\"Amendment No. 10\"), which amends that certain credit agreement, dated as of January 31, 2019 (as amended and/or supplemented from time to time, the “Credit Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1590714/000159071426000003/0001590714-26-000003-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Citibank, N.A."},{"label":"Value","value":"$450 million New Term Loans and $500 million New Revolving Credit Facility, upsizing by $125 million"},{"label":"Effective","value":"2026-02-02"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}