Hamilton Beach obtains lender consent for $1.5M dividend, amends credit agreement conditions

Hamilton Beach Brands Holding Co

Consent allows one-time cash dividend of $1.5M from HBB to parent, subject to excess availability ≥$15M and no default.
Dividend payment must occur by December 16, 2022.
Suppressed availability included in cash dominion calculations during Nov 15–Dec 30, 2022.
Consent fee of $85,500 paid to Wells Fargo and other lenders.
No other amendments to the credit agreement; representations and warranties reaffirmed.

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

Hamilton Beach Brands Holding Co amended Consent with Wells Fargo Bank, National Association, as Administrative Agent, the Lenders that are Parties thereto as the Lenders (effective 2022-11-15).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association, as Administrative Agent, the Lenders that are Parties thereto as the Lenders
Effective: 2022-11-15

Exact text from the filing

On November 15, 2022, Hamilton Beach Brands, Inc. (“HBB”) entered into that certain Consent regarding the Amended and Restated Credit Agreement by and among Wells Fargo Bank, National Association, as Administrative Agent, the Lenders that are Parties thereto as the Lenders, Hamilton Beach Brands, Inc., as Parent and U.S. Borrower, and Hamilton Beach Brands Canada, Inc., as Canadian Borrower (the “Consent”).

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Source: SEC EDGAR

accession 0001709164-22-000055

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