News Column

XERIUM TECHNOLOGIES INC FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits

August 22, 2014



Item 1.01 Entry into a Material Definitive Agreement.

The information set forth in Item 2.03 of this Current Report on Form 8-K is incorporated by reference in this Item 1.01. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant.

On August 18, 2014, Xerium Technologies, Inc. (the "Company") entered into the Second Amendment to Credit and Guaranty Agreement (the "Amendment") amending the Credit and Guaranty Agreement (the "Credit Facility") among the Company, certain direct and indirect subsidiaries of the Company, and Jefferies Finance LLC ("Jefferies"), in its capacity as an additional lender and as the Administrative Agent. The Amendment formally increases the aggregate amount of term loans borrowed under the Credit Facility by an additional $30 million. The Company is using the additional borrowings to settle its previously disclosed Brazilian tax assessment, to settle unassessed amounts associated with tax years 2011 to 2014 and to pay any fees and expenses incurred by the Company in connection with the Amendment. The Amendment makes no changes to the repayment and other previously disclosed terms of the Credit Facility.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and incorporated by reference herein. Item 8.01 Other Events.

On August 20, 2014, the Company issued a press release announcing its participation in a tax amnesty program in order to settle its previously disclosed Brazilian tax assessment and to settle unassessed amounts associated with tax years 2011 to 2014. The Company also announced that it was financing the settlement payment through the additional debt financing raised pursuant to the Amendment, as disclosed under Item 1.01 above. A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are filed herewith.

Exhibit No. Description 10.1 Second Amendment to Credit and Guaranty Agreement dated August 18, 2014. 99.1 Press release dated August 20, 2014.



--------------------------------------------------------------------------------


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Edgar Glimpses


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters