NCI Building Systems, Inc. (NYSE:NCS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
by reference.
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
Amendment No. 2 (the Amendment) to its existing Credit Agreement,
dated as of June 22, 2012, between NCI, as borrower, and Credit
Suisse AG, Cayman Islands Branch, as administrative agent and
collateral agent and the other financial institutions party
thereto from time to time (as previously amended by Amendment No.
1, dated as of June 24, 2013, the Existing Term Loan Facility
and, as amended, the Term Loan Facility)), primarily to extend
the maturity date and reduce the interest rate applicable to all
of the outstanding term loans under the Term Loan Facility.
loans (the Existing Tranche B Term Loans) were outstanding under
the Existing Term Loan Facility. to the Amendment, certain
lenders under the Existing Term Loan Facility extended their
Existing Tranche B Term Loans, in an aggregate amount, along with
new term loans advanced by certain new lenders of approximately
$144.15 million (the New Tranche B Term Loans). The proceeds of
the New Tranche B Term Loans advanced by the new lenders were
used to prepay in full all of the Existing Tranche B Term Loans
that were not extended as New Tranche B Term Loans. to the
Amendment, the maturity date of the New Tranche B Term Loans was
extended to June 24, 2022.
interest at a floating rate measured by reference to, at NCIs
option, either (i) an adjusted London inter-bank offered rate, or
LIBOR, not less than 1.00 percent plus a borrowing margin of 3.25
percent per annum or (ii) an alternate base rate plus a borrowing
margin of 2.25 percent per annum. to the Amendment, the New
Tranche B Term Loans will bear interest at a floating rate
measured by reference to, at NCIs option, either (i) an adjusted
LIBOR not less than 1.00 percent plus a borrowing margin of 3.00
percent per annum or (ii) an alternative base rate plus a
borrowing margin of 2.00 percent per annum.
collateral and guaranteed by the same guarantors as the Existing
Tranche B Term Loans under the Existing Term Loan Facility.
Voluntary prepayments of the New Tranche B Term Loans are
permitted at any time, in minimum principal amounts, without
premium or penalty, subject to a 1.00 percent premium payable in
connection with certain repricing transactions within the first
six months. The Amendment also includes certain other changes to
the Term Loan Facility.
incorporated herein by reference. The foregoing description of
the Amendment does not purport to be complete and is subject to
and qualified in its entirety by reference to the full text of
such agreement.
|
(d)
|
Exhibits.
|
|
Exhibit
Number
|
Description
|
|
|
10.1
|
Amendment No. 2 to the Credit Agreement, dated as of
May 2, 2017, among NCI Building Systems, Inc., as borrower, and Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent and the other financial institutions party thereto from time to time. |
|
|
99.1
|
Press Release dated May 2, 2017.
|
About NCI Building Systems, Inc. (NYSE:NCS)
NCI Building Systems, Inc. is a manufacturer and marketer of metal products for the non-residential construction industry. The Company operates through three segments: engineered building systems, metal components and metal coil coating. The metal coil coating segment consists of cleaning, treating, painting and slitting continuous steel coils before the steel is fabricated for use by construction and industrial users. The metal components segment products include metal roof and wall panels, doors, metal partitions, metal trim, insulated panels and other related accessories. The engineered building systems segment includes the manufacturing of main frames, Long Bay Systems, and engineering and drafting. It sells engineered building systems brand names: Metallic, Mid-West Steel, A & S, All American, Mesco, Star, Ceco, Robertson, Garco, Heritage and SteelBuilding.com. The Company operates approximately 40 manufacturing facilities in the United States, Mexico and China. NCI Building Systems, Inc. (NYSE:NCS) Recent Trading Information
NCI Building Systems, Inc. (NYSE:NCS) closed its last trading session up +0.05 at 17.65 with 193,210 shares trading hands.
