Orion SA
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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Jun 30, 2024 · Filed Aug 1, 2024
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Debt and Other Obligations
Note D. Debt and Other Obligations
Debt and other obligations are as follows:
| June 30, 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) |
| Current portion of China Term-Loan | 3.4 | — |
| Other short-term debt and obligations | 168.0 | 134.7 |
| Current portion of long-term debt and other financial liabilities | 173.6 | 137.0 |
| Non-current | ||
| Term-Loan | 609.9 | 621.8 |
| Deferred debt issuance costs - Term-Loan | (2.6) | (3.1) |
| China Term-Loan | 53.4 | 58.6 |
| Long-term debt, net | 660.7 | 677.3 |
| Total | $834.3 | $814.3 |
a. Revolving credit facility
As of June 30, 2024, total capacity under our senior secured revolving credit facility (the “RCF”) and Ancillary facilities is €280 million ($299.8 million). As of June 30, 2024 and December 31, 2023, availability under the RCF and Ancillary facilities is $157.4 million and $221.6 million, respectively.
There wereno borrowings under the RCF as of June 30, 2024 or December 31, 2023.
b. Other Short-Term Debt and Obligations
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| (In millions) | ||
| Revolving Credit Facility | $— | $— |
| Ancillary Credit Facilities | ||
| OEC GmbH outstanding borrowings | 124.0 | 88.8 |
| OEC LLC outstanding borrowings | 12.4 | 21.1 |
| Brazil Uncommitted Local Lines of Credit (capacity $2.8 million) | — | — |
| Korea Working Capital Loan (capacity $38.1 million) | ||
| Uncommitted | 1.8 | 1.9 |
| Committed | 23.3 | 20.1 |
| China Working Capital Loans | ||
| Qingdao (capacity $6.9 million) | 5.4 | 2.8 |
| Huaibei (capacity $21.4 million) | 1.1 | — |
| Total of Other Short-term Debt and Obligations | $168.0 | $134.7 |
| Supplemental information: | ||
| Total ancillary capacity - EUR | €214.0 | €214.0 |
| Total ancillary capacity - U.S. Dollars | $229.1 | $236.5 |
As of June 30, 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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