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 December 19, 2024, 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 third amendment (the “Third 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. The Credit Agreement provides for a $300 million asset-based revolving credit facility (the “credit facility”).
Among other things, the Third Amendment (i) amends the definition of Maturity Date and (ii) expands the definition of Notes Indenture to include the indenture governing the 9.50% Senior Secured Notes due 2029 issued by Kronos International, Inc., a wholly owned subsidiary of Kronos (“KII”). The amendment to the definition of Maturity Date now allows, subject to satisfaction of a minimum liquidity condition, the remaining 3.75% Senior Secured Notes due 2025 issued by KII to remain outstanding through their maturity date without triggering the maturity date under the credit facility. The general maturity date (July 17, 2029) of the credit facility was not amended. Except as described herein, the material terms of the Credit Agreement generally remain unchanged.
A copy of the Third Amendment is attached as Exhibit 10.1 to this Current Report and is incorporated herein by reference. The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the Third 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: December 19, 2024 | By: | /s/ Tim C. Hafer |
Tim C. Hafer, | ||
Executive Vice President and Chief Financial Officer | ||