Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 88

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 88
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 the commitments thereunder were terminated, and the proceeds of the loans thereunder were used for general corporate purposes of Spirit and its subsidiaries, other than the repayment or redemption of other indebtedness. The Amended and Restated Bridge Credit Agreement will mature, and all obligations thereunder will become due and payable, on the earlier of the date the Merger is consummated and September 30, 2025 (the “Initial Term Facility Maturity Date”), subject to automatic extension for one additional three-month period if the merger closing date is extended in accordance with the terms of the Merger Agreement (such earlier date, the “Bridge Maturity Date”). The principal amount of loans under the Amended and Restated Bridge Credit Agreement bear interest at a rate per annum equal to the TLB Yield (as defined in the Amended and Restated Bridge Credit Agreement) plus a margin of 0.50%. Spirit will accrue a Second Structuring Fee equal to 0.125% of the aggregate amount of the loans and commitments under the Amended and Restated Bridge Credit Agreement on June 25, 2025, and every 60 days thereafter, which fee shall be payable to MSFF on the earlier of the Bridge Maturity Date and the date that all obligations under the Amended and Restated Bridge Credit Agreement are paid in full. Per the terms of the Amended and Restated Bridge Credit Agreement, the payment dates for interest on the outstanding principal amount of the loans have been adjusted from monthly to quarterly.The obligations under the Amended and Restated Bridge Credit Agreement are guaranteed on a senior secured basis by Holdings, Spirit NC, and certain future, direct or indirect, wholly owned material domestic subsidiaries of Holdings (collectively, the “Guarantors”) and are secured by a first-priority lien with respect to substantially all assets of Spirit and the Guarantors, subject to certain exceptions.The Amended and Restated Bridge Credit Agreement requires commitments thereunder to be reduced, and loans to be prepaid, with (a) 100% of the net cash proceeds of certain non-ordinary course asset sales by Holdings or any of its subsidiaries (other than certain non-ordinary course divestitures contemplated by the Merger Agreement or the Purchase Agreement) and (b) 100% of the net cash proceeds of certain issuances, offerings or placements of indebtedness or equity interests by Holdings or any of its subsidiaries, in each case subject to certain exceptions set forth in the Amended and Restated Bridge Credit Agreement.The Amended and