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SEC Filings

10-Q
NN INC filed this Form 10-Q on 08/14/2017
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Table of Contents

Note 5. Debt

Long-term and short-term debt at June 30, 2017, and December 31, 2016, consisted of the following amounts:

 

     June 30,
2017
     December 31,
2016
 

$545.0 million Senior Secured Term Loan B (“Senior Secured Term Loan”) bearing interest at the greater of 0.75% or 1 month LIBOR (1.22% at June 30, 2017), plus an applicable margin of 4.25% at June 30, 2017, expiring October 19, 2022, net of debt issuance costs of $17.7 million at June 30, 2017, and $19.0 million at December 31, 2016

   $ 523,030      $ 524,539  

$300.0 million Incremental Term Loan (“Incremental Term Loan”) bearing interest at the greater of 0.75% or 1 month LIBOR (1.22% at June 30, 2017), plus an applicable margin of 3.75% at June 30, 2017, expiring April 3, 2021, net of debt issuance costs of $3.0 million at June 30, 2017

     294,023        —    

$143.0 million Senior Secured Revolver (“Senior Secured Revolver”) bearing interest at LIBOR (1.22% at June 30, 2017) plus an applicable margin of 3.5% at June 30, 2017, expiring October 19, 2020, net of debt issuance costs of $2.3 million at June 30, 2017, and $2.7 million at December 31, 2016

     30,999        25,298  

$250.0 million Senior Notes (“Senior Notes”) bearing interest at 10.25%, net of debt issuance costs of $4.9 million at December 31, 2016

     —          245,077  

French Safeguard Obligations (Autocam)

     388        358  

Brazilian lines of credit and equipment notes (Autocam)

     379        573  

Chinese line of credit (Autocam)

     3,319        2,619  
  

 

 

    

 

 

 

Total debt

     852,138        798,464  

Less current maturities of long-term debt

     24,748        12,751  
  

 

 

    

 

 

 

Long-term debt, excluding current maturities of long-term debt

   $ 827,390      $ 785,713  
  

 

 

    

 

 

 

 

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