12 unchanged sentences
The New Term Loan and New Revolving Credit Facility bear interest at variable rates.
−Removed: Interest rate risk associated with our New Credit Agreement is managed through an interest rate swap, which we originally executed on
−Removed: April 30, 2020.
−Removed: We amended our interest rate swap to change the index rate from LIBOR to SOFR in connection with the New Credit Agreement.
−Removed: The interest rate swap has an effective date of May 18, 2020 and a termination date of May 18, 2023.
+Added: Interest rate risk associated with our New Credit Agreement is managed through an interest rate swap that was executed on March 10, 2023.
+Added: The swap has an effective date of May 18, 2023 and a termination date of May 18, 2026.
+Added: Under the terms of the swap, we fixed our SOFR borrowing rate on a notional amount of $161.0 million.
+Added: The interest rate swap is not designated as a hedging instrument for accounting purposes.
After inclusion of the notional amount of $161.0 million of our interest rate swap fixing a portion of the variable rate debt, $148.3 million, or 47.9%, of our debt is subject to variable rates.
23 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.