debt
confidence high
sentiment neutral
materiality 0.60
CVGI amends credit facility, cuts term loan to $85M and revolver to $125M
Commercial Vehicle Group, Inc.
- Term loan reduced to $85M aggregate principal; revolver reduced by $25M to $125M.
- Credit facilities mature May 12, 2027; quarterly amortization on term loan at 5%-15% annualized.
- Maximum total leverage ratio covenant set at 4.25:1 stepping down to 3.00:1 by Sep 30, 2025.
- Minimum fixed charge coverage ratio of 1.20:1 maintained.
- Incremental facility capacity capped at $15M; mandatory prepayment triggers added.