On June 27, 2019, Louisiana-Pacific Corporation (the “Company”) entered into an amended and restated credit agreement (the “Amended and Restated Credit Agreement”), among the Company, as borrower, the guarantors from time to time party thereto, American AgCredit, PCA (the “Agent”) as Administrative Agent and Sole Lead Arranger, the lenders from time to time party thereto and CoBank, ACB, as letter of credit issuer. The Amended and Restated Credit Agreement amends and restates the Company’s existing credit agreement, dated as of December 12, 2013, as amended, to, among other things, (i) increase of the revolving commitments to $350 million, (ii) extend the maturity date from December 6, 2022 to June 28, 2024, (iii) eliminate the current ratio financial covenant, and (iv) increase the permitted capitalization ratio financial covenant from 40% to 50%.>

Subject to obtaining commitments from the lenders and satisfying other conditions specified in the Amended and Restated Credit Agreement, the Company may increase the aggregate availability under the facility by an additional $100 million.

The Company’s existing and future material domestic subsidiaries, subject to certain limited exceptions, are required to be guarantors under the Amended and Restated Credit Agreement. to an amended and restated security agreement (the “Amended and Restated Security Agreement”), dated June 27, 2019, among the Company and the Agent, and subject to certain limited exceptions, the obligations of the Company under the Amended and Restated Credit Agreement are secured by a lien on substantially all of the personal property of the Company and each guarantor.

The foregoing descriptions are qualified in their entirety by reference to the Amended and Restated Credit Agreement and the Amended and Restated Security Agreement, which are filed as Exhibits 10.1 and 10.2, respectively, to this report and are incorporated by reference herein.

Item 2.03. Creation of a Direct Financing Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

10.1 Amended and Restated Credit Agreement, dated June 27, 2019, among Louisiana-Pacific Corporation, as borrower, certain subsidiaries of the borrower from time to time party thereto, as guarantors, American AgCredit, PCA, as administrative agent and sole lead arranger, CoBank, ACB, as L/C Issuer, and lenders party thereto.

10.2 Amended and Restated Security Agreement, dated June 27, 2019, among Louisiana-Pacific Corporation and American AgCredit, PCA.

LOUISIANA-PACIFIC CORP Exhibit
EX-10.1 2 amended_andxrestatedxcredi.htm EXHIBIT 10.1 Exhibit AMENDED AND RESTATED CREDIT AGREEMENTDated as of June 27,…
To view the full exhibit click here

About LOUISIANA-PACIFIC CORPORATION (NYSE:LPX)

Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America. The OSB segment includes OSB products produced in North America. The siding segment includes Smart Side siding products, CanExel siding products and other related products. The engineered wood products segment includes laminated veneer lumber and laminated strand lumber, I-joists, plywood and other related products. The South America segment includes products produced and or sold in South America. Its other products category includes its remaining timber and timberlands, and other minor products, services and closed operations. It also markets and sells its products in light industrial and commercial construction.