Valmont Industries,Inc. (NYSE:VMI) Files An 8-K Entry into a Material Definitive Agreement

Valmont Industries,Inc. (NYSE:VMI) Files An 8-K Entry into a Material Definitive Agreement
Item 9.01. Entry into a Material Definitive Agreement.

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On October18, 2017, Valmont Industries,Inc. (the “Company”) and its wholly-owned subsidiaries Valmont Industries Holland B.V. and Valmont Group Pty. Ltd., as Borrowers, entered into a First Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as Administrative Agent, and the other lenders party thereto (the “Restated Credit Agreement”). The Restated Credit Agreement amends and restates the Credit Agreement dated as of August15, 2012 among the Borrowers, the Administrative Agent and the other lenders party thereto (as amended, the “Original Credit Agreement”).

The Restated Credit Agreement provides for a $600 million committed unsecured revolving credit facility. The Company may increase the credit facility by up to an additional $200 million at any time, subject to lenders increasing the amount of their commitments. The obligations arising under the Restated Credit Agreement are guaranteed by the Company and its wholly-owned subsidiaries PiRod,Inc., Valmont Coatings,Inc., Valmont Newmark,Inc. and Valmont Queensland Pty. Ltd.

The amendments to the Original Credit Agreement, which are adopted in the Restated Credit Agreement, include:

· implementing beneficial changes to certain of the baskets and exceptions in the negative covenants of the Restated Credit Agreement; and

· updating the Restated Credit Agreement with certain market provisions.

In connection with the Restated Credit Agreement, Bank of America, N.A., U.S. Bank National Association and Wells Fargo Bank, National Association acted as Syndication Agents, and JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner& Smith Incorporated, Wells Fargo Securities, LLC and U.S. Bank National Association acted as Joint Bookrunners and Joint Lead Arrangers.

Some of the lenders in the Restated Credit Agreement and / or their affiliates have other business relationships with the Company involving the provision of financial and bank-related services, including cash management services and letters of credit, and have participated in the Company’s prior credit agreements and sales of debt.

The foregoing description of the Restated Credit Agreement is qualified in its entirety by reference to the Restated Credit Agreement, which is filed as Exhibit10.1 hereto and incorporated herein by reference. The terms and conditions of the Original Credit Agreement are described in the Company’s Current Reports on Form8-K dated August15, 2012, October17, 2014 and February23, 2016 and are

incorporated herein by reference. To the extent applicable, information in this Current Report on Form8-K supersedes the information in such prior Current Reports on Form8-K.

Item 9.01. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information reported under Item 9.01 above is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

10.1 First Amended and Restated Credit Agreement, dated as of October18, 2017, among the Company, Valmont Industries Holland B.V. and Valmont Group Pty. Ltd., as Borrowers, JPMorgan Chase Bank, N.A., as Administrative Agent, and the other lenders party thereto.


VALMONT INDUSTRIES INC Exhibit
EX-10.1 2 a17-24141_1ex10d1.htm EX-10.1 Exhibit 10.1   EXECUTION VERSION   FIRST AMENDED AND RESTATED CREDIT AGREEMENT   dated as of   October 18,…
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About Valmont Industries,Inc. (NYSE:VMI)

Valmont Industries, Inc. is a producer of fabricated metal products. The Company’s Engineered Support Structures segment manufactures and distributes engineered metal and composite structures and components for global lighting and traffic, wireless communication, and roadway safety. The Utility Support Structures segment manufactures engineered steel and concrete structures for the utility industry. The Energy and Mining segment, all outside of the United States, manufactures access systems applications, forged steel grinding media, on and off shore oil, gas, and wind energy structures. The Coatings segment consists of galvanizing, anodizing and powder coating services on a global basis. The Irrigation segment manufactures agricultural irrigation equipment and related parts and services for the global agricultural industry, as well as tubular products. The Company’s Others segment distributes industrial fasteners.

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