Adient plc Enters New Credit Agreement
Ticker: ADNT · Form: 8-K · Filed: Dec 13, 2024 · CIK: 1670541
Sentiment: neutral
Topics: debt, financing, credit-agreement
TL;DR
Adient just signed a new credit deal, likely meaning new debt or refinancing.
AI Summary
On December 13, 2024, Adient plc entered into a material definitive agreement, specifically a credit agreement. This agreement creates a direct financial obligation for the registrant, indicating a new debt arrangement or modification of existing ones. The filing details the terms and conditions of this financial commitment.
Why It Matters
This filing indicates Adient plc has entered into a new credit agreement, which could impact its financial leverage and operational flexibility.
Risk Assessment
Risk Level: medium — Entering into new credit agreements can introduce financial obligations and potentially alter the company's debt structure, which warrants attention.
Key Players & Entities
- Adient plc (company) — Registrant
- December 13, 2024 (date) — Date of earliest event reported
FAQ
What type of credit agreement did Adient plc enter into?
The filing indicates Adient plc entered into a credit agreement, which is a material definitive agreement and creates a direct financial obligation.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is December 13, 2024.
What is Adient plc's principal executive office address?
Adient plc's principal executive offices are located at 3 Dublin Landings, North Wall Quay, Dublin 1, Ireland, D01 H104.
What is Adient plc's telephone number?
Adient plc's telephone number, including area code, is 734-254-5000.
What is Adient plc's SIC code?
Adient plc's Standard Industrial Classification (SIC) code is 3714, which corresponds to MOTOR VEHICLE PARTS & ACCESSORIES.
Filing Stats: 723 words · 3 min read · ~2 pages · Grade level 11.4 · Accepted 2024-12-13 06:45:09
Key Financial Figures
- $0.001 — registered Ordinary Shares, par value $0.001 ADNT New York Stock Exchange Check th
- $632,000,000 — t as of the Amendment Effective Date of $632,000,000 remained unchanged. The obligations und
Filing Documents
- adnt-20241213.htm (8-K) — 27KB
- adient-amendmentno4conform.htm (EX-10.1) — 139KB
- 0001670541-24-000135.txt ( ) — 336KB
- adnt-20241213.xsd (EX-101.SCH) — 2KB
- adnt-20241213_def.xml (EX-101.DEF) — 15KB
- adnt-20241213_lab.xml (EX-101.LAB) — 26KB
- adnt-20241213_pre.xml (EX-101.PRE) — 16KB
- adnt-20241213_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. On December 12, 2024 (the "Amendment Effective Date"), Adient US LLC, a Michigan limited liability company (the "Lead Borrower"), Adient Global Holdings S..r.l., a private limited liability company ( socit responsabilit limite ) incorporated under the laws of the Grand Duchy of Luxembourg (together with the Lead Borrower, collectively, the "Borrowers" and each, a "Borrower"), Adient plc ("Parent") and certain of Parent's other subsidiaries entered into an amendment (the "Amendment") of the Term Loan Credit Agreement, dated as of May 6, 2019 (as amended prior to the Amendment Effective Date, the "Existing Credit Agreement" and, as amended by the Amendment, the "Credit Agreement"), among the Borrowers, each of the lenders identified therein and Bank of America, N.A., as administrative agent and collateral agent (the "Agent"). The Amendment reduces the interest rate margin applicable thereunder to 2.25%, in the case of Term SOFR loans, and 1.25%, in the case of Base Rate loans. The total loans outstanding under the Credit Agreement as of the Amendment Effective Date of $632,000,000 remained unchanged. The obligations under the Credit Agreement continue to be guaranteed on a secured basis by Parent and certain of its material wholly-owned restricted subsidiaries on substantially the same terms and subject to the same exceptions as the Existing Credit Agreement. The foregoing description of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and 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 incorporated into this Item 2.03 by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. EXHIBIT INDEX Exhibit No. Exhibit Description 10.1 Amendment No. 4 dated December 12, 2024 to the Term Loan Credit Agreement dated as of May 6, 2019, among the Borrowers, the lenders party hereto, and the Agent. 104 Cover Page Interactive Data File (the Cover Page Interactive Data File is 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. ADIENT PLC Date: December 13, 2024 By: /s/ Heather M. Tiltmann Name: Heather M. Tiltmann Title: Executive Vice President, Chief Legal and Human Resources Officer, and Corporate Secretary