Company: NPO
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001164863-25-000017
Chunk: 18

Company: Enpro Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 18
---
 dividends and $4.0 million in repayments of debt. Financing activities in the first three months of 2024 provided $6.2 million, primarily from $33.0 million in net borrowings on our revolving credit facility partially offset by $17.9 million used in the acquisition of Alluxa non-controlling interests and $6.4 million used for dividends paid. 

Capital Resources

Senior Secured Credit Facilities. On December 17, 2021, we entered into a Third Amended and Restated Credit Agreement (the “Credit Agreement”) among the Company and its subsidiary, EnPro Holdings, Inc. ("EnPro Holdings"), as borrowers, certain foreign subsidiaries of the Company from time-to-time party thereto, as designated borrowers, the guarantors party thereto, the lenders party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.  

25

The Credit Agreement provided for credit facilities in the initial aggregate principal amount of $1,007.5 million, consisting of a five-year, senior secured revolving credit facility of $400.0 million (the “Revolving Credit Facility”), a $142.5 million senior secured term loan facility (the “Term Loan A-1 Facility”), a five-year, senior secured term loan facility of $315.0 million (the “Term Loan A-2 Facility”) and a 364-day, senior secured term loan facility of $150.0 million (the “364-Day Facility” and together with the Revolving Credit Facility, the Term Loan A-1 Facility and the Term Loan A-2 Facility, the “Facilities”). The 364-Day Facility was repaid in full in the third quarter of 2022, and, in the third quarter of 2023, we voluntarily prepaid all then-outstanding borrowings and accrued and unpaid interest under the Term Loan A-1 Facility. 

On November 8, 2022, we entered into a First Amendment to the Credit Agreement, which provided that borrowings under the Revolving Credit Facility and the Term Loan A-2 Facility would bear interest at an annual rate of a base rate plus 0.75% or Term SOFR ("Secured Overnight Financing Rate")  plus (i) a credit spread adjustment of 0.10% and (ii) 1.75%, although these interest rates were subject to incremental increase or decrease based on a consolidated total net leverage ratio.  In addition, a commitment fee