Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1198

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 1198
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.0 3.88% Senior Notes due 2028550.0 550.0 Finance lease obligations (2)100.0 101.1 Accounts receivable securitization58.3 81.3 Other notes payable1.9 2.1 Total debt including finance lease obligations$1,405.2 $1,472.5 Less: debt issuance costs4.2 5.3 Total debt including finance lease obligations, net of debt issuance costs$1,401.0 $1,467.2 Less: debt maturing within one year (3)61.384.4Long-term debt including finance lease obligations$1,339.7 $1,382.8 _______________(1) Letters of credit outstanding under the revolving credit facility were $2.6 million and $2.5 million and available funds under the facility were $302.4 million and $259.5 million at December 31, 2024 and 2023, respectively. (2) Refer to Note 13 for more information on finance lease obligations. At December 31, 2024 and 2023, $80.0 million of the finance lease obligation upon maturity will be settled utilizing liquid assets that have been placed into a trust established strictly for this purpose. The trust is presented as Restricted investments on the consolidated balance sheets in the amount of $81.6 million and $79.1 million as of December 31, 2024 and 2023, respectively.(3) Debt maturing within one year is included within "Notes payable and current maturities of long-term debt" on the consolidated balance sheets.Revolving Credit FacilityOn June 23, 2022, we entered into an Amendment and Restatement Agreement (the “Amendment”) together with the other parties named therein, which amends and restates our existing credit agreement, dated as of March 7, 2016, as amended, supplemented or otherwise modified. Among other things, the Amendment (a) extends the maturity date from October 28, 2025 to June 23, 2027 and increases the aggregate principal amount of revolving commitments thereunder from $500 million to $1 billion, (b) adds Ingevity UK as a borrower under the revolving credit facility, and (c) modifies certain leverage ratio tests and thresholds. Borrowings under the revolving credit facility bear interest at a rate per annum equal