Milacron Holdings Corp. (NYSE:MCRN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
ABL Facility
On April27, 2018, Milacron LLC (the “Borrower”), a wholly-owned subsidiary of Milacron Holdings Corp. (the “Company”), entered into the Fourth Amended and Restated Credit Agreement (the “Restated ABL Agreement”) which amends and restates that certain previously disclosed Credit Agreement dated as of April30, 2012 (as amended and restated as of March28, 2013, as further amended and restated as of October17, 2014, as further amended and restated as of May14, 2015, the “Original ABL Agreement”), for a $125million asset-based revolving credit facility (the “ABL Facility”) with certain lenders party thereto and Bank of America, N.A. as administrative agent.
The Restated ABL Agreement, among other things, reduced each of the applicable margins in determining the interest rates on loans by 0.50% per annum, reduced the unused line fee by 0.125% per annum, extended the maturity date to April27, 2023, and reallocated $5,000,000 of availability under the ABL Facility from the German sublimit to the US sublimit. Except as noted the terms of the Restated ABL Agreement are substantially similar to the Original ABL Agreement, including with respect to guarantees and security, affirmative and negative covenants, representations and warranties and events of default.
This description of the Restated ABL Agreement does not purport to be complete and is qualified in its entirety by reference to the Restated ABL Agreement, and the related security and other agreements, copies of which the Company intends to file with the Securities and Exchange Commission as exhibits to its Quarterly Report on Form 10-Q for the quarter ended June30, 2018.
About Milacron Holdings Corp. (NYSE:MCRN)
Milacron Holdings Corp. is engaged in the manufacture, distribution, and service of engineered and customized systems used in the plastic technology and processing industry. The Company operates through three segments: Advanced Plastic Processing Technologies (APPT), Melt Delivery and Control Systems (MDCS), and Fluid Technologies (Fluids). The APPT segment is engaged in the manufacture, distribution and service of equipment and products used in the plastic technology and processing industry, including injection molding, blow molding and extrusion applications. The MDCS segment is engaged in the manufacture of plastic delivery and precision control systems, which are recurring, consumable sales for injection molding applications. The Fluids segment is engaged in the manufacture of coolants, lubricants, process cleaners and corrosion inhibitors that are used in a range of metalworking industries, such as cutting, grinding, stamping and forming and high speed machining.
