Orion SA
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
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Debt and Other Obligations
Note D. Debt and Other Obligations
Debt and other obligations are as follows:
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| (In millions) | ||
| Current | ||
| Current portion of Term-Loan | $3.0 | $3.1 |
| Deferred debt issuance costs - Term-Loan | (0.8) | (0.8) |
| Other short-term debt and obligations | 142.6 | 134.7 |
| Current portion of long-term debt and other financial liabilities | 144.8 | 137.0 |
| Non-current | ||
| Term-Loan | 613.8 | 621.8 |
| Deferred debt issuance costs - Term-Loan | (2.7) | (3.1) |
| China Term-Loan | 57.6 | 58.6 |
| Long-term debt, net | 668.7 | 677.3 |
| Total | $813.5 | $814.3 |
a. Revolving credit facility
As of March 31, 2024, total capacity under our senior secured revolving credit facility (the “RCF”) and Ancillary facilities is €300 million. There wereno borrowings under the RCF as of March 31, 2024 or December 31, 2023.
As of March 31, 2024 and December 31, 2023, availability under the RCF and Ancillary facilities is $192.6 million and $221.6 million, respectively.
b. Other Short-Term borrowings and Obligations
Other short-term debt and obligations are as follows:
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| (In millions) | ||
| Revolving Credit Facility | $— | $— |
| Ancillary Credit Facilities | ||
| OEC GmbH outstanding borrowings | 119.9 | 88.8 |
| OEC LLC outstanding borrowings | 5.8 | 21.1 |
| Brazil Uncommitted Local Lines of Credit (capacity $3.2 million) | — | — |
| Korea Working Capital Loan (capacity $38.9 million) | ||
| Uncommitted | 1.9 | 1.9 |
| Committed | 15.0 | 20.1 |
| China Working Capital Loan | — | 2.8 |
| Total of Other Short-term Debt and Obligations | $142.6 | $134.7 |
| Supplemental information: | ||
| Total ancillary capacity - EUR | €234.0 | €214.0 |
| Total ancillary capacity - U.S. Dollars | $253.0 | $236.5 |
As of March 31, 2024, we are in compliance with our debt covenants.
For additional information relating to our debt, see “Note J. Debt and Other Obligations”, included in our Annual Report in Form 10-K for the year ended December 31, 2023.
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