Adient (ADNT) has released an update to notify the public and investors about an entry into a material definitive agreement.
Don't Miss our Black Friday Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
On January 31, 2024, Adient US LLC and Adient Global Holdings S.à.r.l., along with Adient plc and its subsidiaries, amended their existing Term Loan Credit Agreement from May 6, 2019, with Bank of America as the administrative and collateral agent. The amendment extended the loan maturity date to January 31, 2031, and reduced interest rates to 2.75% for Term SOFR loans and 1.75% for Base Rate loans. The total outstanding loans of $635,000,000 remained the same, secured by guarantees from Parent and its material wholly-owned restricted subsidiaries.
For further insights into ADNT stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
