Loan & DebtJul 2, 2026, 08:26 AM
Gentherm Secures New $550M Five-Year Revolving Credit Facility
AI Summary
Gentherm Inc. and its subsidiaries have entered into a Third Amended and Restated Credit Agreement, establishing a new $550 million secured five-year revolving credit facility. This facility replaces the previous agreement, enhancing the company's financial flexibility and liquidity. The agreement includes customary covenants and guarantees from both US and German subsidiaries, with interest rates and fees tied to the company's consolidated net leverage ratio.
Key Highlights
- Gentherm secured a new $550 million secured five-year revolving credit facility.
- The facility replaces the Second Amended and Restated Credit Agreement from June 10, 2022.
- It includes a $50 million sublimit for swing line loans and a $30 million sublimit for letters of credit.
- Interest rates vary from SOFR/CORRA/EURIBOR/SONIA + 1.125%-2.000% or base rate + 0.125%-1.000%.
- A commitment fee of 0.150% to 0.250% per annum will be paid quarterly.
- Obligations are guaranteed by certain wholly-owned domestic and foreign subsidiaries.
Price Impact
More from THRM