Company: ACCO
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024931
Chunk: 60

Company: ACCO BRANDS Corp
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 60
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 the "Credit Agreement"). The Credit Agreement currently provides for a senior secured credit facility, which consists of a €184.8 million (US$200.0 million based on October 30, 2024 exchange rates) term loan facility, and a US$467.5 million multi-currency revolving credit facility (the "Revolving Facility"). Prior to the seventh amendment which was effective October 30, 2024, the Credit Agreement provided for a senior secured credit facility, which consisted of a €300.0 million (US$320.8 million based on 

58

 ACCO Brands Corporation and SubsidiariesNotes to Consolidated Financial Statements (Continued) 

January 27, 2017, exchange rates) term loan facility, an A$80.0 million (US$60.4 million based on January 27, 2017, exchange rates) term loan facility, a US$100.0 million term loan facility and a US$600.0 million multi-currency revolving credit facility.  The current financial covenants under the Credit Agreement are as follows:•Minimum Interest Coverage Ratio (as defined in the Credit Agreement) of 3.00:1.00; and•Maximum Consolidated Leverage Ratio financial covenant for all first and second fiscal quarters is 4.50x dropping to 4.00x for all third and fourth fiscal quarters.  The current pricing for borrowings under the Credit Agreement is as follows:  

        Consolidated Leverage Ratio
         
        Applicable Rate on Euro/AUD/CDN Dollar Loans
         
        Applicable Rate on Base Rate Loans
         
        Undrawn Fee

        > 4.25
         
        2.25 %
         
        1.25 %
         
        0.375 %

        > 3.5
         
        2.00 %
         
        1.00 %
         
        0.350 %

        > 2.5
         
        1.75 %
         
        0.75 %
         
        0.300 %

        ≤ 2.5
         
        1.50 %
         
        0.50 %
         
        0.250 %
       
       As of December 31, 2024, the applicable rate on Euro, Australian and Canadian dollar loans was 2.