Garrett Motion Inc. entered into Amendment No. 1 (the ?First Amendment?) to that certain Amended and Restated Credit Agreement, dated as of January 30, 2025, by and among the Company, Garrett Motion Holdings Inc., Garrett LX I S.à r.l., Garrett Motion Sàrl, the lenders and issuing banks party thereto, and JPMorgan Chase Bank, N.A., as administrative agent (the ?Credit Agreement,? and as amended by the First Amendment, the ?Amended Credit Agreement?).
The First Amendment (i) reduces the Applicable Rate (as defined in the Amended Credit Agreement) applicable to the U.S. Dollar term loan facility to 2.00% for Term Benchmark Loans (as defined in the Amended Credit Agreement) and 1.00% for ABR Loans (as defined in the Amended Credit Agreement) and (ii) resets the soft call protection of 1.00% for certain repricing transactions applicable to the U.S. Dollar term loan facility for six months after the effective date of the First Amendment. The other material terms of the Credit Agreement remain unchanged.
