Spirit Aerosystems Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation
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| Item 1.01 | Entry into a Material Definitive Agreement. |
On November 12, 2024, effective November 8, 2024, Spirit AeroSystems, Inc. (“Spirit”), a wholly owned subsidiary of Spirit AeroSystems Holdings, Inc. (“Spirit Holdings,” and together with Spirit, the “Company”), acting on its own behalf and on behalf of Spirit’s wholly owned subsidiaries Spirit AeroSystems, Inc., Spirit AeroSystems (Europe) Limited, Short Brothers plc and Spirit AeroSystems North Carolina, Inc. (such subsidiaries and Spirit, collectively, the “Supplier”), entered into a second amended and restated memorandum of agreement (the “MoA”), under which Airbus S.A.S., directly or through its affiliates, is extending certain financial assistance to the Supplier in respect of specified contracts under which Spirit and certain of its subsidiaries are suppliers to Airbus S.A.S. or affiliates of Airbus.
Under the MoA, subject to the terms and conditions therein, Airbus S.A.S. has agreed to, among other things, provide a non-interest bearing line of credit to the Supplier in the amount of $107.0 million, which shall be used as advance payments in connection with production for the Airbus Programmes (as defined therein), and the continued delivery of certain products to Airbus by the Company. Per the terms of the MoA, these amounts, and the related repayment obligations, will be directly or indirectly assumed by Airbus S.A.S. or one of its affiliates upon close of the transactions contemplated by the June 30, 2024 term sheet between Spirit and Airbus SE, or, if earlier, repaid to Airbus on April 1, 2026.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information in Item 1.01 required by this Item 2.03 is incorporated by reference herein.
SIGNATURES
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.
| Date: November 12, 2024 | SPIRIT AEROSYSTEMS HOLDINGS, INC. | |
| By: | /s/ Irene M. Esteves | |
| Irene M. Esteves | ||
| Executive Vice President and Chief Financial Officer | ||