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THERMON GROUP HOLDINGS, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement

June 16, 2014



Item 1.01 Entry into a Material Definitive Agreement On June 11, 2014, Thermon Industries, Inc. (the "US Borrower") and Thermon Canada Inc. (the "Canadian Borrower" and together with the US Borrower, the "Borrowers"), as borrowers, and the other credit parties named therein, entered into the First Amendment (the "First Amendment") to the Amended and Restated Credit Agreement dated April 19, 2013 (the "Amended Credit Agreement") with certain lenders in the United States (the "US Lenders") and Canada (the "Canadian Lenders" and together with the US Lenders, the "Lenders") named therein, JPMorgan Chase Bank, N.A., as US swingline lender and US agent for all Lenders (the "US Agent"), and JPMorgan Chase Bank, N.A., Toronto Branch, as Canadian swingline lender and Canadian agent for all Canadian Lenders (the "Canadian Agent"). The First Amendment modifies certain provisions of the Amended Credit Agreement to, among other things, (i) extend the term of the secured revolving credit facility entered into between the Borrowers, the Lenders, the US Agent and the Canadian Agent in connection with the Amended Credit Agreement from April 19, 2018 to April 19, 2019, (ii) extend the maturity date of the secured term loan facility entered into between the US Borrower and certain of the US Lenders in connection with the Amended Credit Agreement from April 19, 2018 to April 19, 2019, (iii) change the maximum leverage ratio permitted for each fiscal quarter ending on and after March 31, 2015 from 2.25 to 1.00 to 2.75 to 1.00 and (iv) change the applicable margin for loans to the following:

Adjusted LIBOR Rate Spread/CDOR Rate Spread/ Canadian Prime Unused Commitment Leverage Ratio Rate Spread Base Rate Spread Fee Rate Category 1: ? 2.25 to 1.0 2.50% 1.50% 0.40% Category 2: < 2.25 to 1.0, but ? 1.75 to 1.0 2.25% 1.25% 0.35% Category 3: < 1.75 to 1.0, but ? 1.25 to 1.0 2.00% 1.00% 0.30% Category 4: < 1.25 to 1.0 1.75% 0.75% 0.25% The foregoing description is a summary and is qualified in its entirety by reference to the First Amendment, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure required by this item is included in Item 1.01 above and is incorporated herein by reference. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description of Exhibit 10.1 First Amendment to Amended and Restated Credit Agreement dated June 11, 2014 by and among Thermon Industries, Inc. and Thermon Canada Inc., as borrowers, the other credit parties named therein, JPMorgan Chase Bank, N.A. and JPMorgan Chase Bank, N.A., Toronto Branch, as administrative agents, and the other financial institutions and entities party thereto.



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Source: Edgar Glimpses


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