AirBoss of America Corp. announced that it has entered into new senior secured credit facilities consisting of aggregate financing of up to USD 180 million, which are replacing its current senior secured revolving credit facilities, and an update on its previously announced strategic transition. Credit Facilities: The new credit facilities consist of a revolving asset-based credit facility co-arranged by The Toronto-Dominion Bank and Canadian Imperial Bank of Commerce and a non-revolving term loan facility provided by Great Rock Capital Partners, LLC.

The commitments under the ABL Facility, when fully syndicated, are expected to be USD 125 million and the Term Facility is for USD 55 million. The maturity date under both facilities is November 29, 2027. Additional key terms of the new credit facilities include the following: Reducing the maximum applicable margin on revolving debt from 450 basis points to 225 basis points; Dividend increases above current levels are subject to certain financial conditions; Meeting certain minimum adjusted EBITDA and liquidity requirements; and Covenants related to annual capital expenditures.