Company: ATMU
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001921963-25-000134
Chunk: 18

Company: Atmus Filtration Technologies Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 18
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.1 $4.9 Long-term portion7.5 7.3 Total$12.6 $12.2 

NOTE 9. DEBT AND BORROWING ARRANGEMENTS

Atmus entered into the Credit Agreement with a syndicate of banks, providing for a term loan and a revolving credit facility, in anticipation of the Separation. Borrowings under the Credit Agreement did not become available under the Credit Agreement until the IPO occurred. The facilities covered by the Credit Agreement will mature on September 30, 2027.Upon completion of the IPO, we borrowed $650 million under the Credit Agreement, consisting of proceeds of the term loan and amounts drawn under the revolving credit facility, and paid such amounts to Cummins in partial consideration for the Separation.Borrowings under the Credit Agreement bear interest at varying rates, depending on the type of loan and, in some cases, the rates of designated benchmarks and the applicable election made. Generally, U.S. dollar-denominated loans bear interest at an adjusted term Secured Overnight Financing Rate (“SOFR”) (which includes a 0.10 percent credit spread adjustment to SOFR) for the applicable interest period plus a rate ranging 

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from 1.125 percent to 1.75 percent depending on Atmus’ net leverage ratio. As of September 30, 2025, $577.5 million has been drawn on the term loan and no amount was drawn on the revolving credit facility. The revolving credit facility includes an allowance of up to $50.0 million for outstanding letters of credit drawn under the facility that reduces the availability of funds. As of September 30, 2025, no letters of credit were outstanding. These amounts are included within Long-term debt and Current maturities of long-term debt on the Condensed Consolidated Balance Sheets. As of September 30, 2025, Atmus’ fair value of Long-term debt was approximately $577.5 million, which was derived from Level 2 input measures.Our credit lines available as of September 30, 2025 and December 31, 2024 include:As of September 30, 2025As of December 31, 2024Facility AmountBorrowed AmountFacility AmountBorrowed Amount(in millions)Credit facilities:Term loan   September 30, 2027(a)$600.0 $577.5 $600.0 $592.5 Revolving credit facility