Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
THR > SEC Filings for THR > Form 8-K on 16-Jun-2014All Recent SEC Filings

Show all filings for THERMON GROUP HOLDINGS, INC.

Form 8-K for THERMON GROUP HOLDINGS, INC.


16-Jun-2014

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement
On June 11, 2014, Thermon Industries, Inc. (the "US Borrower") and Thermon Canada Inc. (the "Canadian Borrower" and together with the US Borrower, the "Borrowers"), as borrowers, and the other credit parties named therein, entered into the First Amendment (the "First Amendment") to the Amended and Restated Credit Agreement dated April 19, 2013 (the "Amended Credit Agreement") with certain lenders in the United States (the "US Lenders") and Canada (the "Canadian Lenders" and together with the US Lenders, the "Lenders") named therein, JPMorgan Chase Bank, N.A., as US swingline lender and US agent for all Lenders (the "US Agent"), and JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian swingline lender and Canadian agent for all Canadian Lenders (the "Canadian Agent").
The First Amendment modifies certain provisions of the Amended Credit Agreement to, among other things, (i) extend the term of the secured revolving credit facility entered into between the Borrowers, the Lenders, the US Agent and the Canadian Agent in connection with the Amended Credit Agreement from April 19, 2018 to April 19, 2019, (ii) extend the maturity date of the secured term loan facility entered into between the US Borrower and certain of the US Lenders in connection with the Amended Credit Agreement from April 19, 2018 to April 19, 2019, (iii) change the maximum leverage ratio permitted for each fiscal quarter ending on and after March 31, 2015 from 2.25 to 1.00 to 2.75 to 1.00 and (iv) change the applicable margin for loans to the following:
                       Adjusted LIBOR Rate
                        Spread/CDOR Rate
                     Spread/ Canadian Prime                     Unused Commitment
   Leverage Ratio          Rate Spread       Base Rate Spread       Fee Rate
Category 1:
? 2.25 to 1.0                 2.50%                1.50%              0.40%
Category 2:
< 2.25 to 1.0, but
? 1.75 to 1.0                 2.25%                1.25%              0.35%
Category 3:
< 1.75 to 1.0, but
? 1.25 to 1.0                 2.00%                1.00%              0.30%
Category 4:
< 1.25 to 1.0                 1.75%                0.75%              0.25%

The foregoing description is a summary and is qualified in its entirety by reference to the First Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The disclosure required by this item is included in Item 1.01 above and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits

Exhibit No.    Description of Exhibit

10.1               First Amendment to Amended and Restated Credit Agreement dated
                   June 11, 2014 by and among Thermon Industries, Inc. and
                   Thermon Canada Inc., as borrowers, the other credit parties
                   named therein, JPMorgan Chase Bank, N.A. and JPMorgan Chase
                   Bank, N.A., Toronto Branch, as administrative agents, and the
                   other financial institutions and entities party thereto.


  Add THR to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for THR - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.