Lineage Inc. Secures $200M Credit Facilities
Ticker: LINE · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1868159
Sentiment: neutral
Topics: debt, financing, credit-facility
TL;DR
Lineage just locked in $200M in new credit lines with Bank of America, maturing in 2029.
AI Summary
On September 19, 2024, Lineage, Inc. entered into a material definitive agreement, specifically a credit agreement with Bank of America, N.A. This agreement establishes a new $150 million revolving credit facility, which matures on September 19, 2029. The company also entered into a $50 million term loan facility with the same bank, maturing on September 19, 2029.
Why It Matters
This expansion of credit facilities provides Lineage, Inc. with significant financial flexibility for future growth and operational needs.
Risk Assessment
Risk Level: low — The filing details the establishment of standard credit facilities, which is a routine financial activity for a company.
Key Numbers
- $150M — Revolving Credit Facility (Provides liquidity for ongoing operations and short-term needs.)
- $50M — Term Loan Facility (Offers capital for specific investments or longer-term financial commitments.)
- $200M — Total New Credit (Aggregate amount of new financing secured by the company.)
Key Players & Entities
- Lineage, Inc. (company) — Registrant
- Bank of America, N.A. (company) — Lender
- $150 million (dollar_amount) — Revolving Credit Facility Amount
- $50 million (dollar_amount) — Term Loan Facility Amount
- September 19, 2029 (date) — Maturity Date for Credit Facilities
- September 19, 2024 (date) — Date of Credit Agreement
FAQ
What is the purpose of the new credit facilities?
The filing indicates the establishment of these facilities as a material definitive agreement and a direct financial obligation, suggesting they are for general corporate purposes or strategic initiatives, though specific uses are not detailed in this excerpt.
Who is the lender for these new credit facilities?
Bank of America, N.A. is the lender for both the $150 million revolving credit facility and the $50 million term loan facility.
When do the new credit facilities mature?
Both the $150 million revolving credit facility and the $50 million term loan facility mature on September 19, 2029.
What is the total amount of new financing Lineage, Inc. has secured?
Lineage, Inc. has secured a total of $200 million in new financing through a $150 million revolving credit facility and a $50 million term loan facility.
What type of agreement did Lineage, Inc. enter into on September 19, 2024?
Lineage, Inc. entered into a material definitive agreement, which includes a credit agreement establishing new revolving and term loan facilities.
Filing Stats: 799 words · 3 min read · ~3 pages · Grade level 13.9 · Accepted 2024-09-23 08:44:26
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share LINE Nasdaq Global Select M
Filing Documents
- line-20240919.htm (8-K) — 30KB
- secondamendmentto2021npa.htm (EX-10.1) — 1535KB
- firstamendmentto2022npa.htm (EX-10.2) — 1320KB
- 0001868159-24-000007.txt ( ) — 3393KB
- line-20240919.xsd (EX-101.SCH) — 2KB
- line-20240919_lab.xml (EX-101.LAB) — 21KB
- line-20240919_pre.xml (EX-101.PRE) — 12KB
- line-20240919_htm.xml (XML) — 3KB
01 - Entry into a Material Definitive Agreement
Item 1.01 - Entry into a Material Definitive Agreement On September 19, 2024, Lineage, Inc., (the " Company ") entered into a (a) Second Amendment, Joinder Agreement and Release dated as of September 19, 2024 (the " 2021 NPA Amendment ") among the Company, Lineage Logistics, LLC (" LL "), Lineage Treasury Europe, B.V. (" LTE "), Lineage Logistics Holdings, LLC (" Holdings "), each other person signatory thereto as an Obligor Affiliate, and the Purchasers signatory thereto, which amends the Note Purchase Agreement dated as of August 20, 2021, among LL, LTE, Holdings, each Obligor Affiliate named therein, and each of the Purchasers named therein (as amended, restated, supplemented, or otherwise modified from time to time, the " 2021 Note Purchase Agreement "), and a (b) First Amendment, Joinder Agreement and Release dated as of September 19, 2024 (the "2022 NPA Amendment") among the Company, LL, LTE, Holdings, each other person signatory thereto as an Obligor Affiliate, and the Purchasers signatory thereto, which amends the Note Purchase Agreement dated as of August 15, 2022, among LL, LTE, Holdings, each Obligor Affiliate named therein, and each of the Purchasers named therein (as amended, restated, supplemented or otherwise modified from time to time, the " 2022 Note Purchase Agreement" ). The 2021 NPA Amendment and the 2022 NPA Amendment amended the 2021 Note Purchase Agreement and 2022 Note Purchase Agreement, respectively, to, among other things, cause the Company and certain other subsidiaries to accede to the 2021 Note Purchase Agreement and 2022 Note Purchase Agreement, respectively, as Obligor Affiliates. The foregoing descriptions of the 2021 NPA Amendment and the 2022 NPA Amendment are qualified in their entirety by reference to the text of the 2021 NPA Amendment and the 2022 NPA Amendment, respectively, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and incorporated herein by reference. Item 2.03 - Creation of a Dir
01 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits (d): The following exhibits are being filed herewith: Exhibit No. Description 10.1 Second Amendment, Joinder Agreement and Release dated as of September 19, 2024 to Note Purchase Agreement dated as of August 20, 2021 among the Company, Lineage Logistics, LLC, Lineage Treasury Europe B.V., Lineage Logistics Holdings, LLC, each other Obligor Affiliate signatory thereto and the Purchasers signatory thereto 10.2 First Amendment, Joinder Agreement and Release dated as of September 19, 2024 to Note Purchase Agreement dated as of August 15, 2022 among the Company, Lineage Logistics, LLC, Lineage Treasury Europe B.V., Lineage Logistics Holdings, LLC, each other Obligor Affiliate signatory thereto and the Purchasers signatory 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, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Lineage, Inc. (Registrant) September 23, 2024 /s/ Robert Crisci Date (Signature) Robert Crisci Chief Financial Officer