TriMas entered into a replacement facility amendment with a bank group led by JPMorgan Chase as administrative agent and collateral agent.

Pursuant to the amendment, Trimas replaced a $500 million revolving credit facility under the existing credit agreement with a new $300 million revolving credit facility, which will permit borrowings denominated in specific foreign currencies, subject to a $125 million (equivalent) sublimit, and will mature on September 20, 2022.

The revolving loans under the credit agreement will bear interest at LIBOR plus 1.625% (subject to step-ups up to LIBOR plus 1.750% or 2.000% or step-downs down to LIBOR plus 1.500% or 1.375%, based on the leverage ratio).

The credit agreement also provides incremental revolving credit facility commitments in an amount not to exceed the greater of $200.0 million and an amount such that, after giving effect to such incremental commitments and the incurrence of any other indebtedness substantially simultaneously with the making of such commitments, the senior secured net leverage ratio, as defined, is no greater than 3.75 to 1.00.