← Mistras Group, Inc.

CREDIT AGREEMENT

Signed Aug 1, 2022

Committed
$315m
Matures
Jul 2028
TrancheSizeMaturesMargin
Revolving credit facility$190mJul 2028125–275 bps
Term Loan A$125mJul 2028125–275 bps

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

LevelConditionMarginUnused fee
Level Category 1≤ 1.25 to 1.00125 bps15 bps
Level Category 2> 1.25 to 1.00 but ≤ 1.75 to 1.00150 bps18 bps
Level Category 3> 1.75 to 1.00 but ≤ 2.25 to 1.00163 bps20 bps
Level Category 4> 2.25 to 1.00 but < 2.75 to 1.00175 bps25 bps
Level Category 5> 2.75 to 1.00 but < 3.25 to 1.00200 bps28 bps
Level Category 6> 3.25 to 1.00 but < 3.75 to 1.00225 bps30 bps
Level Category 7> 3.75 to 1.00275 bps35 bps

Lenders: JPMORGAN CHASE BANK, N.A., BofA SECURITIES, INC.

Tested quarterlyHeadroom not yet measured3.75x
  • From Sep 30, 2023 · 3.75x
The Borrower shall maintain ... a Senior Secured Leverage Ratio not exceeding (i) 4.00 to 1.00, determined as of the end of each of its fiscal quarters ending on September 30, 2022, December 31, 2022, March 31, 2023 and June 30, 2023, and (ii) 3.75 to 1.00, for each fiscal quarter ending thereafter; provided, that ... the Borrower may ... increase the maximum Senior Secured Leverage Ratio ... to 4.25 to 1.00 for a period of four (4) consecutive fiscal quarters ...
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured1.25x
  • From Jun 30, 2024 · 1.25x
The Borrower shall maintain, on a Consolidated basis, as of the end of each of the Borrower’s fiscal quarters commencing with the fiscal quarter ended December 31, 2023, a Fixed Charge Coverage Ratio of not less than (x) ... not less than 1.10 to 1, and (y) ... 1.25 to 1.
Read the filing on sec.gov ↗

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