PGT Innovations, Inc Enters into Fourth Amendment to the Credit Agreement Dated as of February 16, 2016 – marketscreener.com

On October 25, 2021, PGT Innovations, Inc. entered into a Fourth Amendment (the ?Fourth Amendment?) to the Credit Agreement (the ?Credit Agreement?) dated as of February 16, 2016, by and among the Company, the other credit party thereto, the lending institutions party thereto and Truist Bank (as successor by merger to SunTrust Bank), as Incremental Term A Lender, Administrative Agent, Collateral Agent, an LC Issuer and Swing Line Lender. The Fourth Amendment provides for, among other things, a new Term A loan maturing on October 31, 2024, in the aggregate principal amount of $60,000,000 (the ?New Term A Loan?), which has no regularly scheduled amortization. The Company used the proceeds of the New Term A Loan (and cash on hand) to (i) finance the acquisition described in Item 2.01 and (ii) pay fees and expenses incurred in connection with the foregoing transactions. The Company?s obligations under the Credit Agreement continue to be secured by substantially all of its and its direct and indirect subsidiaries? assets. Interest on the New Term A Loan is payable either quarterly or at the expiration of any LIBOR interest period applicable thereto. The New Term A Loan accrues interest at a rate equal to, at option, a base rate (with a floor of 100 basis points) or LIBOR (with a floor of 0 basis points) plus an applicable margin equal to 1.00% for base rate loans and 2.00% for LIBOR loans.

Excerpt from:
PGT Innovations, Inc Enters into Fourth Amendment to the Credit Agreement Dated as of February 16, 2016 - marketscreener.com