Trex Co Inc Enters Material Definitive Agreement

TL;DR

Trex just signed a big new debt deal, filing it today.

AI Summary

On October 10, 2024, Trex Company Inc. entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the registrant. The filing details the terms of this agreement, which is a significant financial commitment for the company.

Why It Matters

This filing indicates Trex Company Inc. has entered into a new financial obligation, which could impact its debt structure and financial flexibility.

Risk Assessment

Risk Level: medium — Entering into new financial obligations can increase a company's leverage and financial risk.

Key Players & Entities

• Trex Company Inc (company) — Registrant
• October 10, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $400,000,000 — oans in the maximum principal amount of $400,000,000 ("Revolving A Loans"), Revolving B Loan
• $150,000,000 — oans in the maximum principal amount of $150,000,000 ("Revolving B Loans"), and Letters of C

Filing Documents

• trex-20241010.htm (8-K) — 44KB
• trex-ex4_1.htm (EX-4.1) — 47KB
• 0000950170-24-114223.txt ( ) — 207KB
• trex-20241010.xsd (EX-101.SCH) — 23KB
• trex-20241010_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On October 10, 2024, Trex Company, Inc. (the "Company"), entered into a Second Amendment to Credit Agreement (the "Second Amendment") by and among the Company, as borrower, the guarantors party thereto; Bank of America, N.A. ("BOA"), as a Lender, Administrative Agent, Swing Line Lender and L/C Issuer; TD Bank, N.A. as a Lender and Syndication Agent; and PNC Bank, National Association and Wells Fargo Bank, National Association (each, a "Lender" and collectively, the "Lenders"), arranged by BofA Securities, Inc. as Sole Lead Arranger and Sole Bookrunner, amending that Credit Agreement dated as of May 18, 2022, as amended by that certain First Amendment dated as of December 22, 2022 (collectively, the "Credit Agreement"). The Credit Agreement provides the Company with Revolving A Loans in the maximum principal amount of $400,000,000 ("Revolving A Loans"), Revolving B Loans in the maximum principal amount of $150,000,000 ("Revolving B Loans"), and Letters of Credit and Swing Line Loans (as defined in the Credit Agreement). The Second Amendment to the Credit Agreement extends the maturity date of the Revolving B Loans from December 22, 2024 to December 22, 2026. Base Rate Loans (as defined in the Credit Agreement) under the Revolving A Loan and the Swing Line Loans accrue interest at the Base Rate plus the Applicable Rate (as defined in the Credit Agreement) and Term SOFR Loans for the Revolving Loans accrue interest at the rate per annum equal to the sum of Term SOFR for such interest period plus the Applicable Rate (as defined in the Credit Agreement). The Base Rate for any day is a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by BOA as its prime rate, and (c) the Term SOFR plus 1.0% subject to certain interest rate floors. Repayment of all then outstanding principal, interest, f

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Trex Company, Inc. herewith furnishes the following exhibits: Exhibit Number Description of Exhibit 4.1 Second Amendment to Credit Agreement dated as of October 10, 2024. 104.1 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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. Date: October 11, 2024 By: /s/ Bryan H. Fairbanks Bryan H. Fairbanks President and Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR