NN, INC. (NASDAQ:NNBR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November24, 2017, NN, Inc., a Delaware corporation (the “Company”), certain Company subsidiaries named therein, SunTrust Bank, as administrative agent (“SunTrust”), and certain lenders named therein entered into that certain Amendment No.3 to the Amended and Restated Credit Agreement (the “Amendment”), which amended the Company’s existing amended and restated credit agreement, dated as of September30, 2016, by and among the Company, SunTrust, as administrative agent, and certain lenders from time to time party thereto (as amended, the “Amended and Restated Credit Agreement”).
The Amendment lowers the applicable interest rate (i)with respect to the TrancheB Term Facility, by lowering the applicable margin by 0.50% per annum, from 3.25% to 2.75% on Base Rate loans and from 4.25% to 3.75% on Eurodollar Rate Loans, and (ii)with respect to the 2017 Incremental Term Loans, by lowering the applicable margin by 0.50% per annum, from 2.75% to 2.25% on Base Rate loans and from 3.75% to 3.25% on Eurodollar Rate Loans.
The foregoing summary is qualified in its entirety by reference to the full text of the Amendment, which is included as Exhibit10.1 hereto and incorporated herein by reference.
| Item 1.01. | CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. |
The information set forth in Item 1.01 of this Current Report on Form8-K above is incorporated herein by reference.
| Item 1.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits
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NN INC ExhibitEX-10.1 2 d492996dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT This AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”),…To view the full exhibit click here
About NN, INC. (NASDAQ:NNBR)
NN, Inc. is a diversified industrial company. The Company operates through three segments: the Precision Bearing Components Group, the Precision Engineered Products Group and the Autocam Precision Components Group. Within its Precision Bearing Components Group, the Company manufactures and supplies high precision bearing components, consisting of balls, cylindrical rollers, tapered rollers, spherical rollers and metal retainers for bearing and constant velocity-joint manufacturers. Within its Precision Engineered Products Group, the Company designs and manufactures a range of high-precision metal and plastic components, assemblies and finished devices for the medical, electrical, automotive and aerospace end markets. Within its Autocam Precision Components Group, the Company manufactures highly engineered precision metal components and subassemblies for the automotive, heating, ventilating and air conditioning, fluid power and diesel engine end markets.
