Delaware | 1-12084 | 34-1559357 | ||
(State of incorporation) | (Commission File Number) | (IRS Employer identification No.) |
300 Madison Avenue Toledo, Ohio |
43604 |
|
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| reduces the amount of commitments available for revolving loans from $110.0 million to $100.0 million, but allows the Borrowers the option to increase the loan facility by $10.0 million; | ||
| extends the maturity date from April 8, 2014 to April 29, 2016, and provides for a springing maturity date with respect to the credit facility to the extent that Libbey Glass 10% senior secured notes due 2015 are not refinanced by November 17, 2014, subject to certain exceptions; | ||
| reduces pricing for all loans by 1.5%-1.75%, making the applicable margin spread for (i) Eurocurrency Loans 1.75%-2.00% and (ii) CBFR Loans 0.75%-1.00%; | ||
| reduces the commitment fee from 0.75% to 0.375%; and | ||
| provides for a springing fixed charge coverage ratio covenant, requiring the Borrowers to maintain an EBITDA to fixed charges ratio above 1.10:1.00 during periods when the amount of available commitments plus the loan parties cash and permitted investments falls below a certain threshold. |
10.1 | Amendment No. 2 to Amended and Restated Credit Agreement |
LIBBEY INC. |
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By: | /s/ Susan A. Kovach | |||
Name: | Susan A. Kovach | |||
Title: | Vice President, General Counsel & Secretary |
Exhibit Number | Description | |
10.1
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Amendment No. 2 to Amended and Restated Credit Agreement |