Kronos Worldwide Files 8-K on New Agreement and Obligation

TL;DR

Kronos Worldwide just signed a new deal and took on debt. Big moves ahead.

AI Summary

On December 19, 2024, Kronos Worldwide, Inc. filed an 8-K report detailing a material definitive agreement and a direct financial obligation. The filing indicates the company entered into a new agreement and incurred a financial obligation, though specific details of the agreement and obligation are not provided in this excerpt.

Why It Matters

This filing signals a significant new financial commitment or partnership for Kronos Worldwide, Inc., which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, suggesting potential changes in the company's financial structure or operational strategy.

Key Players & Entities

• KRONOS WORLDWIDE INC (company) — Registrant
• December 19, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $300 million — to. The Credit Agreement provides for a $300 million asset-based revolving credit facility (

Filing Documents

• kro-20241219x8k.htm (8-K) — 46KB
• kro-20241219xex10d1.htm (EX-10.1) — 82KB
• 0001257640-24-000050.txt ( ) — 294KB
• kro-20241219.xsd (EX-101.SCH) — 4KB
• kro-20241219_def.xml (EX-101.DEF) — 3KB
• kro-20241219_lab.xml (EX-101.LAB) — 12KB
• kro-20241219_pre.xml (EX-101.PRE) — 10KB
• kro-20241219x8k_htm.xml (XML) — 5KB

01

Item 1.01 Entry into a Material Definitive Agreement. On December 19, 2024, Kronos Worldwide, Inc. ("Kronos"), together with its direct or indirect operating subsidiaries Kronos Louisiana, Inc., Kronos (US), Inc., Kronos Canada, Inc., Kronos Europe NV, and Kronos Titan GmbH, entered into a third amendment (the "Third Amendment") to its Credit Agreement dated as of April 20, 2021 (as previously amended, the "Credit Agreement") with Wells Fargo Bank, National Association, as administrative agent, and the lenders a party thereto. The Credit Agreement provides for a $300 million asset-based revolving credit facility (the "credit facility"). Among other things, the Third Amendment (i) amends the definition of Maturity Date and (ii) expands the definition of Notes Indenture to include the indenture governing the 9.50% Senior Secured Notes due 2029 issued by Kronos International, Inc., a wholly owned subsidiary of Kronos ("KII"). The amendment to the definition of Maturity Date now allows, subject to satisfaction of a minimum liquidity condition, the remaining 3.75% Senior Secured Notes due 2025 issued by KII to remain outstanding through their maturity date without triggering the maturity date under the credit facility. The general maturity date (July 17, 2029) of the credit facility was not amended. Except as described herein, the material terms of the Credit Agreement generally remain unchanged. A copy of the Third Amendment is attached as Exhibit 10.1 to this Current Report and is incorporated herein by reference. The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the Third Amendment.

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information required by Item 2.03 contained in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Item No. Description 10.1 Third Amendment to Credit Agreement dated December 19, 2024 among Kronos Worldwide, Inc., Kronos Louisiana, Inc., Kronos (US), Inc., Kronos Canada, Inc., Kronos Europe NV, Kronos Titan GmbH, Wells Fargo Bank, National Association, as administrative agent, and the lenders a party thereto. 104 Cover Page Interactive Data File (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. KRONOS WORLDWIDE, INC. (Registrant) Date: December 19, 2024 By: /s/ Tim C. Hafer Tim C. Hafer, Executive Vice President and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR