CVG Enters Material Definitive Agreement

Ticker: CVGI · Form: 8-K · Filed: Dec 26, 2024 · CIK: 1290900

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

Related Tickers: CVG

TL;DR

CVG just signed a big deal, expect financial updates soon.

AI Summary

Commercial Vehicle Group, Inc. (CVG) entered into a Material Definitive Agreement on December 19, 2024, related to a direct financial obligation. The company, headquartered in New Albany, Ohio, filed this 8-K report on December 26, 2024, detailing the specifics of this agreement.

Why It Matters

This filing indicates a significant financial commitment or obligation for Commercial Vehicle Group, Inc., which could impact its financial standing and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or risks that may not be immediately apparent.

Key Players & Entities

FAQ

What type of material definitive agreement did Commercial Vehicle Group, Inc. enter into?

The filing indicates the entry into a Material Definitive Agreement and the creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement, but the specific nature of the agreement is not detailed in this excerpt.

When was the earliest event reported in this filing?

The earliest event reported was on December 19, 2024.

What is the principal executive office address for Commercial Vehicle Group, Inc.?

The principal executive offices are located at 7800 Walton Parkway, New Albany, Ohio 43054.

What is the SEC file number for Commercial Vehicle Group, Inc.?

The SEC file number for Commercial Vehicle Group, Inc. is 001-34365.

What is the SIC code for Commercial Vehicle Group, Inc.?

The Standard Industrial Classification (SIC) code for Commercial Vehicle Group, Inc. is 3714, which corresponds to MOTOR VEHICLE PARTS & ACCESSORIES.

Filing Stats: 1,369 words · 5 min read · ~5 pages · Grade level 13.9 · Accepted 2024-12-26 07:57:10

Key Financial Figures

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Amendment to Credit Agreement On December 19, 2024, Commercial Vehicle Group, Inc. (the "Company") and certain of its subsidiaries entered into a fourth amendment (the "Amendment") to its credit agreement (as so amended, the "Amended Credit Agreement") between, among others, Bank of America, N.A. as administrative agent (the "Administrative Agent") and other lenders party thereto (the "Lenders") pursuant to which the Lenders reduced the existing term loan facility to $85 million in aggregate principal amount (the "Term Loan Facility") and reduced the revolving credit facility commitments by $25 million to an aggregate of $125 million in revolving credit facility commitments (the "Revolving Credit Facility" and together with the Term Loan Facility, the "Credit Facilities"). Subject to the terms of the Amended Credit Agreement, the Revolving Credit Facility includes a $10 million swing line sublimit and a $10 million letter of credit sublimit. The Amended Credit Agreement provides for an incremental term facility agreement and/or an increase of the Revolving Credit Facility (together, the "Incremental Facilities"), in a maximum aggregate amount of $15 million. The Credit Facilities mature on May 12, 2027 (the "Maturity Date"). Interest Rates and Fees Amounts outstanding under the Credit Facilities and the commitment fee payable in connection with the Credit Facilities accrue interest at a per annum rate equal to (at the Company's option) the base rate or the Term SOFR (including a credit spread adjustment) plus a rate which will vary according to the Consolidated Total Leverage Ratio as set forth in the most recent compliance certificate received by the Administrative Agent, as set out in the following table: Guarantee and Security All obligations under the Amended Credit Agreement and related documents are unconditionally guaranteed by each of the Company's existing and future direct and indirect wholly

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibit Exhibit No. Description 10.1 Fourth Amendment dated December 19, 2024 to the Credit Agreement, dated as of April 30, 2021 between, among others, the Company, Bank of America, N.A. as administrative agent and other lenders party thereto.

SIGNATURES

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. COMMERCIAL VEHICLE GROUP, INC. December 26, 2024 By: /s/ Andy Cheung Name: Chung Kin Cheung ("Andy Cheung") Title: Chief Financial Officer (Principal Financial Officer)

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