Business Context and Reporting Period
This Form 8-K Current Report was filed by Garrett Motion Inc. on May 18, 2026. The filing primarily addresses the entry into a material definitive agreement regarding the company's credit facilities and announces an upcoming investor event.
Key Financial Metrics and Debt Terms
The filing details specific amendments to the company's debt structure rather than reporting operational financial results such as revenue or cash flow.
- Credit Facility: Amendment No. 2 to the Amended and Restated Credit Agreement (originally dated January 30, 2025).
- Interest Rate Reduction: The Applicable Rate for the U.S. Dollar term loan facility has been reduced to 1.75% for Term Benchmark Loans and 0.75% for ABR Loans.
- Call Protection: Soft call protection of 1.00% for certain repricing transactions has been reset for a six-month period following the effective date.
- Administrative Agent: JPMorgan Chase Bank, N.A.
The filing text does not provide clear values for total debt outstanding, liquidity positions, revenue, profit, or margins.
Material Changes
The primary material change is the reduction in borrowing costs and the adjustment of call protection terms on the U.S. Dollar term loan facility. All other material terms of the Credit Agreement remain unchanged.
Outlook, Management Commentary, and Risks
Investor Event: The Company scheduled a live Technology and Investor Day for May 20, 2026. Materials for this event are included as Exhibit 99.2.
Disclosure Status: Information provided in the Investor Day presentation is not deemed "filed" under Section 18 of the Exchange Act and is not subject to the liabilities of that section, nor is it incorporated by reference into other filings unless expressly stated.
Risks and Contingencies: The filing does not explicitly list new risks or contingencies beyond the standard legal disclaimers regarding the credit agreement amendment.
Key Facts for Investor Verification
- Verify the full text of the Second Amendment (Exhibit 10.1) to confirm all covenants and conditions associated with the reduced interest rates.
- Review the Technology and Investor Day presentation (Exhibit 99.2) for updated strategic guidance, noting that this information is not legally "filed" for liability purposes.
- Confirm the impact of the 1.75% and 0.75% rate reductions on the company's future interest expense projections.
- Monitor the six-month window for the reset soft call protection to understand refinancing or repricing constraints.