Company: LPX
Filing Date: 2025-03-28
Form Type: 8-K
Source: 0000060519-25-000008
Chunk: 0

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-03-28
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement

On March 26, 2025

As amended by the First Amendment, revolving borrowings under the Credit Agreement accrue interest, at our option, at either (a) a “base rate” plus a margin of 0.6% to 1.6% or (b) Term SOFR plus a margin of 1.6% to 2.6%. The First Amendment also includes an unused commitment fee, due quarterly, ranging from 0.175% to 0.425%. The applicable margins and fees within these ranges are based on our ratio of consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) to cash interest charges. The “base rate” is the highest of (i) the Federal funds rate plus 0.5%, (ii) the U. S. prime rate, and (iii) one-month Term SOFR plus 1.0%.

The First Amendment also modifies the capitalization ratio covenant that was present in the Credit Agreement. The capitalization ratio is a measure of funded debt less unrestricted cash to total capitalization. Under the First Amendment, the capitalization ratio covenant requires the Company and its consolidated subsidiaries to have, as of the end of each fiscal quarter, a capitalization ratio of no more than 65%.

The foregoing description of the First Amendment is qualified in its entirety by reference to the First Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits