Strattec Security Corporation's guaranty, liens, and obligations under ADAC-STRATTEC's prior credit agreement with BMO Bank N.A. were terminated effective April 30, 2026, upon entering a new credit agreement where the Company provides no credit support.
Key takeaways
ADAC-STRATTEC, LLC, a majority owned JV subsidiary of Strattec, entered Amended and Restated Credit Agreement with BMO Bank N.A. effective April 30, 2026.
Prior JV Credit Agreement dated June 28, 2012 with BMO Bank N.A. (formerly BMO Harris Bank N.A.) was replaced.
Company's guaranty, liens, and related obligations under the prior agreement were terminated and released.
Company is not a borrower, guarantor, or credit support party under the new JV Credit Agreement.