EnPro Industries, Inc. (NYSE:NPO) entered into a Third Amendment to Amended and Restated Credit Agreement dated as of October 12, 2016 (the “Third Amendment”) with Coltec Industries Inc (“Coltec”), New Coltec, Inc. (“New Coltec”), OldCo, LLC (“OldCo”), the other Guarantors party thereto, the Lenders party thereto and Bank of America, N.A., as Administrative Agent. Each of Coltec, New Coltec and OldCo are subsidiaries of the Company.
The Third Amendment provides for the amendment and restatement of the Amended and Restated Credit Agreement dated as of August 28, 2014 (as previously amended, the “Existing Credit Agreement”), among the Company, Coltec, the existing Guarantors, the Lenders and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer to permit certain corporate restructuring transactions with respect to Coltec, New Coltec and OldCo and other actions contemplated by the Modified Joint Plan of Reorganization of Garlock Sealing Technologies LLC, et al. and OldCo, LLC, Proposed Successor by Merger to Coltec Industries Inc dated as of May 20, 2016, as modified on June 21, 2016 and July 29, 2016 (the “Joint Plan”), filed with the United States Bankruptcy Court for the Western District of North Carolina (the “Bankruptcy Court”). The Joint Plan was filed pursuant to a comprehensive consensual settlement to resolve current and future asbestos claims initially described in the Company’s Current Report on Form 8-K filed on March 18, 2016.