Business Context and Reporting Period
NewMarket Corporation filed a Form 8-K on December 29, 2008, reporting a material definitive agreement entered into on December 22, 2008. The filing concerns an amendment to the company's existing revolving credit facility.
Key Financial Metrics
- Debt Facility Commitment: The total facility commitment under the Second Amended and Restated Revolving Credit Agreement is now $107 million.
- Facility Increase: SunTrust Bank increased its facility commitment by an additional $7 million.
- Revenue, Profit, Cash Flow, Margins: The filing text does not provide a clear value for these metrics.
- Liquidity: The filing does not provide specific liquidity ratios or cash balances, only the updated credit facility limit.
Material Changes Versus Prior Period
The primary material change is the expansion of the company's available credit. The Supplement Agreement increased the total revolving credit facility commitment from $100 million to $107 million. All other terms remain consistent with the existing agreement dated December 21, 2006.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard representations and warranties customary for credit agreements. The transaction was executed to increase available liquidity under existing terms.
Important Facts for Investor Verification
- Verify the total available credit facility is now $107 million.
- Confirm that the $7 million increase was provided by SunTrust Bank as the increasing lender.
- Note that the agreement terms are consistent with the Second Amended and Restated Revolving Credit Agreement dated December 21, 2006.
- Review Exhibit 10.1 (Supplement Agreement) for specific covenants and conditions not detailed in the summary.