Horizon Global entered into third amendment to its June 30, 2015 credit agreement with JPMorgan Chase Bank as administrative agent.

The amendment provides for a replacement term loan facility, in the original aggregate principal amount of $160 million to replace the prior term loan facility. The proceeds of the replacement term loan facility, fully funded on March 31, 2017, were used to repay in full the outstanding principal amount of the term loans outstanding immediately prior to the effectiveness of the amendment.

The applicable rate for loans bearing interest at the Alternate Base Rate decreased from 5.00% to 3.50% and adjusted LIBOR decreased from 6.00% to 4.50%, with a 1% floor.