Gentherm Inc

$800m committed across 2 active facilities, next covenant test Sep 30, 2026. THRM

Motor Vehicle Parts & Accessories

Recent changes

  1. Jul 2, 2026Gentherm Inc signs $250m Credit Agreement, matures Jun 2031SEC ↗

Net leverage: when the limit steps, and which way the company's ratio has been moving.

20263.99x1.85x-0.28xToday
Tested quarterly85.7%ratio 0.50x, estimated, vs 3.50x limit in force at Jun 30, 20263.50x
Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Company to be greater than 3.50 to 1.0; provided that, in connection with a Material Acquisition, the Company may elect by written notice to the Administrative Agent that the ratio described above shall be increased to 4.00 to 1.0 ... for four consecutive fiscal quarters commencing with the fiscal quarter in which such Material Acquisition occurred; provided further that, for at least one full fiscal quarter immediately following the last fiscal quarter of each Leverage Increase, the Consolidated Net Leverage Ratio as of the end of such fiscal quarter shall be not greater than 3.50 to 1.0 before another Leverage Increase may occur.
Read the filing on sec.gov ↗
Tested quarterly85.7%ratio 0.50x, estimated, vs 3.50x limit in force at Jun 30, 20263.50x
Permit the Consolidated Net Leverage Ratio as of the end of any fiscal quarter of the Company to be greater than 3.50 to 1.0; provided that, in connection with a Material Acquisition, the Company may elect ... that the ratio described above shall be increased to 4.00 to 1.0 for four consecutive fiscal quarters
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured3.00x
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Company to be less than 3.00 to 1.0.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured3.00x
Permit the Consolidated Interest Coverage Ratio as of the end of any fiscal quarter of the Company to be less than 3.00 to 1.0.
Read the filing on sec.gov ↗

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THIRD AMENDED AND RESTATED CREDIT AGREEMENTunconfirmed

Signed Jun 29, 2026

Committed
$550m
Matures
Jun 2031
Agent
BANK OF AMERICA, N.A.
TrancheSizeMaturesMargin
Revolving credit facility$550mJun 2031113–200 bps

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

LevelConditionMarginUnused fee
Level initial periodfrom Closing Date to first Business Day after Compliance Certificate for fiscal quarter ending June 30, 2026113 bps15 bps
Level 1< 1.00 to 1.0113 bps15 bps
Level 2> 1.00 to 1.0 but < 1.75 to 1.0125 bps18 bps
Level 3> 1.75 to 1.0 but < 2.50 to 1.0150 bps20 bps
Level 4> 2.50 to 1.0 but < 3.25 to 1.0175 bps23 bps
Level 5> 3.25 to 1.0200 bps25 bps

Lenders: BOFA SECURITIES, INC., JPMORGAN CHASE BANK, N.A., HSBC SECURITIES (USA) INC., PNC CAPITAL MARKETS LLC, WELLS FARGO SECURITIES, LLC

Credit Agreement

Signed Jun 29, 2026

Committed
$250m
Matures
Jun 2031
Agent
BANK OF AMERICA, N.A.
TrancheSizeMaturesMargin
Term Facility$250mJun 2031113–200 bps

Priced over Term SOFR, floor 0 bps (Delayed draw term loan).

LevelConditionMarginUnused fee
Level 1< 1.00 to 1.0113 bpsn/a
Level 2> 1.00 to 1.0 but < 1.75 to 1.0125 bpsn/a
Level 3> 1.75 to 1.0 but < 2.50 to 1.0150 bpsn/a
Level 4> 2.50 to 1.0 but < 3.25 to 1.0175 bpsn/a
Level 5> 3.25 to 1.0200 bpsn/a

Lenders: BOFA SECURITIES, INC., JPMORGAN CHASE BANK, N.A., HSBC SECURITIES (USA) INC., PNC CAPITAL MARKETS LLC, WELLS FARGO SECURITIES, LLC

No amendments on file yet.

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