Kronos Worldwide 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 July 17, 2025, Kronos Worldwide, Inc. (“Kronos”), together with its direct or indirect operating subsidiaries Kronos Louisiana, Inc., Kronos (US), Inc., Kronos Canada, Inc., Kronos Europe NV, and Kronos Titan GmbH, entered into a fourth amendment (the “Fourth Amendment”) to its Credit Agreement dated as of April 20, 2021 (as previously amended, the “Credit Agreement”) with Wells Fargo Bank, National Association, as administrative agent, and the lenders a party thereto.
Among other things, the Fourth Amendment (i) increases the maximum borrowings under the Credit Agreement’s asset-based revolving credit facility (the “Global Revolver”) from $300 million to $350 million; (ii) increases the limit on Global Revolver borrowings by Kronos Europe NV from €30 million to €55 million; and (iii) increases the limit on Global Revolver borrowings by Kronos Titan GmbH from €60 million to €85 million.
Kronos is increasing the maximum borrowings under the credit facility to provide additional liquidity for general corporate purposes and to support near-term debt maturities, including approximately €75 million in outstanding 3.75% Senior Secured notes due in September 2025.
A copy of the Fourth Amendment is attached as Exhibit 10.1 to this Current Report and is incorporated herein by reference. The foregoing description of the Fourth Amendment does not purport to be complete and is qualified in its entirety by reference to the Fourth Amendment.
Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information required by Item 2.03 contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits
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10.1 | ||
104 | Cover Page Interactive Data File (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.
KRONOS WORLDWIDE, INC. | ||
(Registrant) | ||
Date: July 17, 2025 | By: | /s/ Tim C. Hafer |
Tim C. Hafer, | ||
Executive Vice President and Chief Financial Officer | ||