14 unchanged sentences
To reduce our market risk for changes in interest rates on our variable rate borrowings, and to manage a portion of our exposure to changes in interest rates, we occasionally enter into interest rate swap agreements.
−Removed: In 2022, we entered into an interest rate swap agreement with a notional amount of $100 million that matures in May 2029.
−Removed: The interest rate swap agreement is designated as a cash flow hedge of interest payments on $100 million of borrowings
−Removed: under our 2024 Credit Agreement.
−Removed: Under the terms of the swap agreement, we will receive monthly variable interest payments based on one month Term SOFR and will pay interest based on a fixed rate of 2.683% per annum.
−Removed: In October 2024, we entered into an interest rate swap agreement with an initial notional amount of €100 million that matures in March 2030.
−Removed: At December 31, 2024, the notional amount was $103.9 million or €100 million.
−Removed: The interest rate swap agreement is designated as a cash flow hedge of interest payments on euro denominated borrowings under our 2024 Credit Agreement equal to the notional amount of the interest rate swap agreement.
−Removed: The notional amount of the interest rate swap will decrease quarterly starting from June 2025.
−Removed: Under the terms of the swap agreement, we will receive monthly variable interest payments based on one month EURIBOR and will pay interest based on a fixed rate of 2.11% per annum.
+Added: Interest rate swap agreements designated as cash flow hedges of interest payments mature in May 2029 and March 2030.
+Added: Under the terms of the interest rate swap agreements, we will receive monthly variable interest payments based on one month Term SOFR and one month EURIBOR, respectively, and will pay interest based on a fixed rate of 2.683% per annum and 2.11% per annum, respectively.
As of December 31, 2025 , we had approximately $598.1 million of outstanding borrowings under our 2024 Credit Agreement, net of deferred financing costs, of which approximately $386.4 million bears interest at variable rates of interest and $211.7 million bears interest at fixed rates, after consideration of the interest rate swap agreements entered into in June 2022 and October 2024.
7 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.