NN, INC. (NASDAQ:NNBR) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01.
On June 11, 2019, 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. 7 to the Amended and Restated Credit Agreement (the Amendment), which amended the Companys existing amended and restated credit agreement, dated as of September 30, 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 (i) reduced the amount available under the Companys senior secured revolver from $125 million to $110 million, (ii) limits availability under the Companys senior secured revolver to $100 million until July 1, 2020, unless a certain consolidated net leverage ratio is achieved, and (iii) increased the consolidated net leverage ratios for quarterly periods ending on or after March 31, 2019.
The foregoing summary is qualified in its entirety by reference to the full text of the Amendment, which is included as Exhibit 10.1 hereto and incorporated herein by reference.
The information set forth in Item 1.01 of this Current Report on Form 8-K above is incorporated herein by reference.
(d) Exhibits
| 10.1 | Amendment No. 7 to Amended and Restated Credit Agreement, dated as of June 11, 2019, by and among NN, Inc., certain NN, Inc. subsidiaries named therein, SunTrust Bank, as administrative agent, and certain lenders named therein |