Quanex amends credit agreement with $475 million revolver and $500 million term loan for Tyman deal
Quanex Building Products amended its existing credit agreement on June 12, 2024 to raise its senior secured revolving credit facility to $475 million and add a $500 million senior secured term loan A. The company says proceeds will be used in part to fund a portion of the purchase price for its planned acquisition of Tyman plc, which was previously announced on April 22, 2024. The new borrowing adds significant debt that shareholders will bear while the Tyman transaction remains subject to completion.
Key points
- June 12, 2024: amendment to Second Amended and Restated Credit Agreement with Wells Fargo Bank, National Association as agent
- Revolving facility of $475 million and term loan A of $500 million, both with a five-year maturity
- Term A loan amortizes at 5% per annum; interest at Base Rate plus 1.000% to 1.750% or Adjusted Term SOFR plus 2.000% to 2.750%
- Facilities are secured by first-priority liens on substantially all assets and guaranteed by material U.S. subsidiaries
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 13, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.