Generac Holdings Inc. (NYSE:GNRC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive
Amendment of Term Loan
On May 11, 2017, the Company amended its Term Loan dated as of
February 9, 2012 which, among other items, modified the Term Loan
pricing by favorably reducing certain applicable margin rates.
Previously, the Term Loan bore interest at rates that included an
adjusted LIBOR rate plus an applicable margin of between
2.50-2.75%, subject to the Companys net debt leverage ratio as
defined in the Term Loan and a LIBOR floor of 0.75%. Effective
with this amendment, the applicable margin is now reduced to a
fixed rate of 2.25%.The Term Loan amendment is attached hereto as
Exhibit 10.1 and incorporated herein by reference. The foregoing
summary does not purport to be complete and is qualified in its
entirety by reference to such exhibit.
Item 9.01 Financial Statements and Exhibits
2017 Replacement Term Loan Amendment, dated as of May 11,
About Generac Holdings Inc. (NYSE:GNRC)
Generac Holdings Inc. (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use. It designs, manufactures, sources and modifies engines, alternators, transfer switches and other components necessary for its products, which are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel. It classifies its products into three categories: Residential products, Commercial & Industrial (C&I) products, and Other products. Generac Holdings Inc. (NYSE:GNRC) Recent Trading Information
Generac Holdings Inc. (NYSE:GNRC) closed its last trading session down -0.88 at 35.14 with 291,521 shares trading hands.