Gentherm Incorporated entered into the First Amendment to its Second Amended and Restated Credit Agreement on February 24, 2026, to permit transactions related to its merger with Modine Manufacturing Company's SpinCo, allow up to $400 million additional term indebtedness, release certain borrowers and guarantors, and remove SOFR/SONIA credit spread adjustments.
Key takeaways
First Amendment executed February 24, 2026 with Bank of America, N.A. as Administrative Agent and all Lenders
Permits transactions under January 29, 2026 Agreement and Plan of Merger with Modine and SpinCo
Authorizes up to $400 million additional term indebtedness for the Transactions, subject to customary terms
Releases Gentherm Enterprises GmbH, Gentherm Licensing GmbH, GLLP, Maltese Guarantors, and Gentherm Properties I, LLC
Removes credit spread adjustments related to SOFR and SONIA rates
Amends June 10, 2022 Credit Agreement; Exhibit 10.1 attached