ACCO Brands Corporation Enters into Fifth Amendment to Third Amended and Restated Credit Agreement
April 01, 2021 at 06:43 am EDT
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Effective March 31, 2021, ACCO Brands Corporation entered into a Fifth Amendment to its Third Amended and Restated Credit Agreement, as amended (the “ Credit Agreement”) among the Company, certain subsidiaries of the Company, Bank of America, N.A., as administrative agent, and the other lenders party thereto. Pursuant to the Fifth Amendment, the Credit Agreement was amended to, among other things: extend the maturity date from May23, 2024 to March31, 2026; modify the maximum net leverage ratio financial covenant such that for the fiscal quarter ending September30, 2022 and thereafter, the maximum net leverage ratio is set at 4.00:1.00; reflect more favorable pricing at higher net leverage ratio levels, resulting in a 25 basis point reduction in the applicable rate on outstanding loans than was in effect prior to the Fifth Amendment based on the Company’s current consolidated leverage ratio, along with lower fees on undrawn amounts; and eliminate the LIBOR rate floor for U.S. Dollar loans.
ACCO Brands Corporation is a global consumer, technology and business branded products company. The Companyâs segments include ACCO Brands North America, ACCO Brands EMEA and ACCO Brands International. Each business segment designs, markets, sources, manufactures, and sells recognized consumer, technology and business branded products used in schools, homes and at work. The Companyâs product categories include gaming and computer accessories; storage and organization; notebooks; shredding; laminating and binding machines; stapling; punching; planners; dry-erase boards; and do-it-yourself tools, among others. Its portfolio includes both globally and regionally recognized brands. The Companyâs primary brands include PowerA, Five Star, AT-A-GLANCE, Quartet, Kensington, Swingline, GBC, Mead, Hilroy, Leitz, Derwent, Spirax, NOBO, Esselte, Artline, Rexel and others. Its products are sold primarily in the United States, Europe, Australia, Canada, Brazil and Mexico.
ACCO BRANDS CORPORATION 
