Business Context and Reporting Period
Company: Astronics Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: January 13, 2016
Event: Entry into a Material Definitive Agreement regarding a credit facility modification.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, or specific debt balances. The document focuses exclusively on the terms of a credit agreement amendment.
Material Changes
- Credit Facility Amendment: Entered into Amendment No. 1 to the Fourth Amended and Restated Credit Agreement.
- New Lender: Added Wells Fargo Bank, National Association as a lender.
- Maturity Extension: Extended the maturity date of the revolving credit facility from September 26, 2019, to January 13, 2021.
- Existing Lenders: HSBC Bank USA, National Association (Agent/Swingline/Issuing Bank), Bank of America, N.A., and Manufacturers and Traders Trust Company.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, or specific risk factors beyond the standard disclosure that the summary is qualified by reference to the full Amendment (Exhibit 10.1). No unusual items or contingencies are described in the text provided.
Investor Verification Checklist
- Review Exhibit 10.1 (Amendment No. 1) for specific interest rate changes, fees, or covenants not detailed in the summary.
- Verify the total commitment amount of the revolving credit facility to assess liquidity impact.
- Confirm if the addition of Wells Fargo alters the syndicate structure or voting rights on the debt.