Garrett Motion Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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| Item 1.01 | Entry into a Material Definitive Agreement |
On August 6, 2025, Garrett Motion Inc. (the “Company”) entered into Amendment No. 1 (the “First Amendment”) to that certain Amended and Restated Credit Agreement, dated as of January 30, 2025, by and among the Company, Garrett Motion Holdings Inc., Garrett LX I S.à r.l., Garrett Motion Sàrl, the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the “Credit Agreement,” and as amended by the First Amendment, the “Amended Credit Agreement”).
The First Amendment (i) reduces the Applicable Rate (as defined in the Amended Credit Agreement) applicable to the U.S. Dollar term loan facility to 2.00% for Term Benchmark Loans (as defined in the Amended Credit Agreement) and 1.00% for ABR Loans (as defined in the Amended Credit Agreement) and (ii) resets the soft call protection of 1.00% for certain repricing transactions applicable to the U.S. Dollar term loan facility for six months after the effective date of the First Amendment. The other material terms of the Credit Agreement remain unchanged.
The description of the First Amendment contained in this Item 1.01 does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the First Amendment which is attached hereto as Exhibit 10.1 and is incorporated by reference herein.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant. |
The information set forth under Item 1.01 is hereby incorporated by reference in response to this Item.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Exhibit No. |
Document Description | |
| 10.1 | First Amendment, dated as of August 6, 2025, to Amended and Restated Credit Agreement, dated as of January 30, 2025, among Garrett Motion Inc., Garrett LX I S.à r.l., Garrett Motion Holdings, Inc., Garrett Motion Sàrl, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent. | |
| 99.1 | Press release of Garrett Motion, Inc., dated August 6, 2025. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GARRETT MOTION INC. | ||||
| By: | /s/ Sean Deason | |||
| Name: | Sean Deason |
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| Title: | Senior Vice President and Chief Financial Officer |
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Date: August 7, 2025