Garrett Motion Inc. Files 8-K for Material Definitive Agreement

TL;DR

Garrett Motion Inc. just signed a big deal, creating a new financial obligation. Details in the 8-K.

AI Summary

On January 30, 2025, Garrett Motion Inc. entered into a material definitive agreement, creating a direct financial obligation. The company, incorporated in Delaware, filed an 8-K report detailing this event. The filing also includes other events and financial statements and exhibits.

Why It Matters

This filing indicates a significant new financial commitment or obligation for Garrett Motion Inc., which could impact its financial health and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet them.

Key Players & Entities

• Garrett Motion Inc. (company) — Registrant
• January 30, 2025 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — e on which registered Common Stock, $0.001 par value per share GTX The Nasdaq
• $691,762,500 — ") in an aggregate principal amount of $691,762,500 (the " New Term Facility "). The New Te
• $630,000,000 — nts in an aggregate principal amount of $630,000,000 (the " New Revolving Facility " and, to
• $30.0 million — an aggregate face amount not exceeding $30.0 million) outstanding under the New Revolving Fa

Filing Documents

• eh250584889_8k.htm (8-K) — 34KB
• eh250584889_ex1001.htm (EX-10.1) — 1473KB
• eh250584889_ex9901.htm (EX-99.1) — 11KB
• 0000950142-25-000228.txt ( ) — 2078KB
• gtx-20250130.xsd (EX-101.SCH) — 3KB
• gtx-20250130_def.xml (EX-101.DEF) — 26KB
• gtx-20250130_lab.xml (EX-101.LAB) — 35KB
• gtx-20250130_pre.xml (EX-101.PRE) — 24KB
• eh250584889_8k_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement On January 30, 2025, Garrett Motion Inc. (the " Company ") entered into that certain Restatement Agreement (the " Restatement Agreement "), which amends and restates that certain Credit Agreement, dated as of April 30, 2021 (as amended by that certain Amendment No. 1, dated as of January 11, 2022, that certain Amendment No. 2, dated as of March 22, 2022, that certain Amendment No. 3, dated as of April 27, 2023, that certain Amendment No. 4, dated as of May 21, 2024 and that certain Amendment No. 5, dated as of May 21, 2024, the " Existing Credit Agreement ," and as amended and restated by the Restatement Agreement, the " Credit Agreement "), by and among the Company, Garrett Motion Holdings Inc., Garrett Motion Srl and Garrett LX I S..R.L., as borrowers (the " Borrowers "), JPMorgan Chase Bank, N.A., as administrative agent, and the lenders and issuing banks party thereto from time to time. In connection with their entry into the Restatement Agreement, the Borrowers refinanced in full all existing term loans outstanding under the Existing Credit Agreement with new term loans (the " New Term Loans ") in an aggregate principal amount of $691,762,500 (the " New Term Facility "). The New Term Loans mature on January 30, 2032 and will bear interest at a rate equal to, at the Company's option, 2.25% per annum in the case of Term Benchmark Loans (as defined in the Credit Agreement) and 1.25% per annum in the case of ABR Loans (as defined in the Credit Agreement). The Borrowers also refinanced in full all existing revolving loans outstanding under the Existing Credit Agreement and permanently terminated all revolving commitments then currently in effect, which loans and commitments were replaced by new revolving commitments in an aggregate principal amount of $630,000,000 (the " New Revolving Facility " and, together with the New Term Facility, the " Credit Facilities "). The maturity date of the New Revolving Facility

01 Other Events

Item 8.01 Other Events. A copy of the press release announcing the Company's entry into the Restatement Agreement is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Document Description 10.1 Restatement Agreement, dated as of January 30, 2025, to the existing Credit Agreement, dated as of April 30, 2021, among Garrett Motion Inc., Garrett LX I S. r.l., Garrett Motion Holdings, Inc., Garrett Motion Srl, the lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A., as administrative agent. 99.1 Press release of Garrett Motion Inc., dated January 31, 2025. 104 Cover Page Interactive Data File - the cover page XBRL tags are 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. GARRETT MOTION INC. By: /s/ Sean Deason Name: Sean Deason Title: Senior Vice President and Chief Financial Officer Date: January 31, 2025

View Full Filing

View this 8-K filing on SEC EDGAR