SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size 12/20/17 SPX Corp 8-K:1 12/19/17 2:1.8M |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 34K 2: EX-10.10.1 Exhibit 10.1 HTML 683K
Document |
Delaware (State or other jurisdiction of incorporation) | 38-1016240 (IRS Employer Identification No.) |
• | extend the term of each of the facilities under the Existing Credit Agreement to December 19, 2022; |
• | reduce
the available amount under the participation foreign credit instrument facility from $175 million to $145 million and the available amount under the bilateral foreign credit instrument facility from $125 million to $55 million; |
• | make available to the Company a new term loan facility, fully funded on December 19, 2017, in the amount of $350 million, from which the Company applied approximately $328 million in proceeds to prepay its existing term loan facility under the Existing Credit Agreement in full; |
• | adjust
the maximum aggregate amount of additional commitments the Company may seek, without consent from the existing lenders, to add an incremental term loan facility and/or increase the commitments in respect of the domestic revolving credit facility, the global revolving credit facility, the participation foreign credit instrument facility and/or the bilateral foreign credit instrument facility to (i) the greater of (A) $200 million and (B) the Company’s Consolidated EBITDA for the preceding four fiscal quarters, plus (ii) an amount equal to all voluntary prepayments of the term loan facility and voluntary prepayments accompanied by permanent commitment reductions of revolving credit facilities and foreign credit instrument facilities, plus (iii) an unlimited amount so long as, immediately after giving effect
thereto, the Company’s Consolidated Senior Secured Leverage Ratio for the prior four fiscal quarters does not exceed 2.75:1.00 (with the provisions described in clauses (ii) and (iii) being essentially unchanged from the Existing Credit Agreement); |
• | permit unlimited Investments, capital stock repurchases and dividends, and prepayments of subordinated debt if the Company’s Consolidated Leverage Ratio, after giving pro forma effect to such payments, is less than 2.75 to 1.00 (previously 2.50 to 1.00); |
• | increase
the Consolidated Leverage Ratio that the Company is required to maintain as of the last day of any fiscal quarter to not more than 3.50 to 1.00 (or 4.00 to 1.00 for the four fiscal quarters after certain permitted acquisitions) and include certain add-backs in the definition of Consolidated EBITDA used in determining such ratio; and |
• | adjust the per annum fees charged and the interest rate margins applicable to Eurodollar and alternate base rate loans, in each case based on the Consolidated Leverage Ratio, to be as follows: |
Consolidated Leverage Ratio | Domestic Revolving Commitment Fee | Global Revolving Commitment Fee | Letter of Credit Fee | Foreign Credit Commitment Fee | Foreign Credit Instrument Fee | LIBOR Rate Loans | ABR Loans | |||||||||||||||||||||
Greater
than or equal to 3.00 to 1.0 | 0.350 | % | 0.350 | % | 2.000 | % | 0.350 | % | 1.250 | % | 2.000 | % | 1.000 | % | ||||||||||||||
Between
2.25 to 1.0 and 3.00 to 1.0 | 0.300 | % | 0.300 | % | 1.750 | % | 0.300 | % | 1.000 | % | 1.750 | % | 0.750 | % | ||||||||||||||
Between
1.50 to 1.0 and 2.25 to 1.0 | 0.275 | % | 0.275 | % | 1.500 | % | 0.275 | % | 0.875 | % | 1.500 | % | 0.500 | % | ||||||||||||||
Less
than 1.50 to 1.0 | 0.250 | % | 0.250 | % | 1.375 | % | 0.250 | % | 0.800 | % | 1.375 | % | 0.375 | % |
SPX CORPORATION | ||
(Registrant) | ||
Date:
December 20, 2017 | By: | /s/ Scott W. Sproule |
Vice President, Chief Financial Officer and | ||
Treasurer |
This ‘8-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/19/22 | ||||
Filed on: | 12/20/17 | |||
For Period End: | 12/19/17 | |||
9/1/15 | 8-K, S-8 | |||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/25/22 SPX Technologies, Inc. 10-K 12/31/21 144:23M 2/26/21 SPX Technologies, Inc. 10-K 12/31/20 122:21M |