5 unchanged sentences
We do not use financial instruments for trading purposes.
−Removed: If we utilized our 2018 Revolving Credit Facility, we would be exposed to changes in interest rates.
−Removed: Our 2018 Revolving Credit Facility bears interest, at our option, at a rate to either (i) the Adjusted Term SOFR Rate and Adjusted EURIBOR Rate (each, as defined in the 2018 Credit Agreement), plus an applicable margin initially equal to 3.00% per annum or (ii) the ABR Rate, plus an applicable margin initially equal to 2.00% per annum, in each case with two 25 basis point step downs based on achievement of certain senior secured first lien net leverage ratios.
+Added: With respect to the First Lien Term Loans and if we draw under our 2018 Revolving Credit Facility, we are exposed to changes in interest rates.
+Added: Borrowings under the 2018 Revolving Credit Facility bear interest (i) with respect to the new revolving loans denominated in U.S.
+Added: dollars, at the option of GrafTech Finance, Adjusted Term SOFR plus 3.50% per annum or ABR plus 2.50% per annum and (ii) with respect to new revolving loans denominated in euros, the Adjusted EURIBOR Rate plus 3.50% per annum.
+Added: The First Lien Term Loans bear interest at the option of GrafTech Global, at a rate equal to (i) Term SOFR (as defined in the First Lien Term Loan Credit Agreement) (subject to a 2.00% floor) plus 6.00% per annum or (ii) the ABR (as defined in the First Lien Term Loan Credit Agreement) plus 5.00% per annum.
Our exposure to changes in currency exchange rates results primarily from:
6 unchanged sentences
These instruments effectively capped our interest rate exposure.
−Removed: As of December 31, 2023, we did not have any outstanding interest rate swaps.
−Removed: As of December 31, 2022 , we recorded unrealized pre-tax gains of $27.4 million on our interest rate swaps.
−Removed: As of December 31, 2023, we no longer had any variable rate debt outstanding and therefore no exposure to variability in interest rates.
−Removed: See Note 8, "Fair Value Measurements and Derivative Instruments" in the Notes to the Consolidated Financial Statements for further discussion.
+Added: As of December 31, 2024 or 2023, we did not have any outstanding interest rate swap contracts.
Currency rate management.
4 unchanged sentences
Forward exchange contracts and purchased currency options are carried at fair value.
−Removed: Our outstanding foreign currency derivatives represented a net unrealized pre-tax gain of $0.1 million at December 31, 2023 and a net unrealized pre-tax loss of $0.2 million at December 31, 2022.
+Added: Our outstanding foreign currency derivatives represented net unrealized pre-tax gains of $0.1 million at both December 31, 2024 and 2023.
Energy commodity management.
8 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.