2 unchanged sentences
Our exposure to market risk includes interest rate fluctuations in connection with our 2021 BSP Term Loan (see Note 5 – Debt) and our JPMorgan ABL Facility (see Note 6 – Credit Facilities).
−Removed: As of June 30, 2022, we have $87.6 million of outstanding indebtedness under our BSP Term Loan which is due June 2027 with interest at either (i) LIBOR plus 6.50% - 7.00% (determined by reference to a net leverage pricing grid), subject to a 1.00% LIBOR floor, or (ii) base rate plus 5.50% - 6.00% (determined by reference to a net leverage pricing grid), subject to a 2.00% base rate floor.
+Added: As of September 30, 2022, we have $69.5 million of outstanding indebtedness under our BSP Term Loan which is due June 2027 with interest at either (i) LIBOR plus 6.50% - 7.00% (determined by reference to a net leverage pricing grid), subject to a 1.00% LIBOR floor, or (ii) base rate plus 5.50% - 6.00% (determined by reference to a net leverage pricing grid), subject to a 2.00% base rate floor.
Borrowings under our JPMorgan ABL Facility bear interest at either (i) Eurodollar spread plus 1.50% - 2.00% (determined by reference to an excess availability pricing grid) or (ii) Alternate Base Rate plus 0.50% - 1.00% (determined by reference to an excess availability pricing grid and base rate subject to a 1.00% floor).
1 unchanged sentence
Interest rate risk may result from many factors, including governmental monetary and tax policies, domestic and international economic and political considerations and other factors that are beyond our control.
−Removed: During the six-month period ended June 30, 2022, the maximum amount borrowed under the revolving credit facility was $13.0 million and the average amount of borrowings outstanding was $0.8 million.
−Removed: As of June 30, 2022, the amount of total borrowings outstanding under the revolving credit facility was nil.
+Added: During the nine-month period ended September 30, 2022, the maximum amount borrowed under the revolving credit facility was $13.0 million and the average amount of borrowings outstanding was $0.8 million.
+Added: As of September 30, 2022, the amount of total borrowings outstanding under the revolving credit facility was nil.
London Interbank Offering Rate (“LIBOR”) is an interest rate benchmark used as a reference rate for our term loan.
22 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.