UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 1.01 | Entry into a Material Definitive Agreement. |
Amendment of Accounts Receivable Securitization Facility
On June 5, 2020, RPM International Inc. (the “Company”) amended its existing $250.0 million accounts receivable securitization facility (the “A/R Facility”) by entering into Amendment No. 7 to Second Amended and Restated Receivables Sale Agreement, dated as of June 5, 2020 (the “RSA Amendment”), among the Company, RPM Funding Corporation, a special purpose entity whose voting interests are wholly owned by the Company, certain originators party thereto (the “Originators”), certain purchasers party thereto (the “Purchasers”), and PNC Bank, National Association, as administrative agent (the “Administrative Agent”).
Pursuant to the RSA Amendment, the Administrative Agent and each Purchaser (i) consented to Tremco Barrier Solutions, Inc, an Originator, converting on May 31, 2020 from a Delaware corporation to a Delaware limited liability company and in connection therewith changing its name from “Tremco Barrier Solutions, Inc.” to “Tremco Barrier Solutions, LLC” (together, the “Tremco Barrier Conversion”) and (ii) waived any technical violations under the A/R Facility resulting from the lack of prior notice of the Tremco Barrier Conversion.
The description contained herein of the RSA Amendment is qualified in its entirety by reference to the full text of the RSA Amendment, which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ending May 31, 2020.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| RPM International Inc. | ||||||
| (Registrant) | ||||||
| Date June 11, 2020 |
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| /s/ Edward W. Moore | ||||||
| Edward W. Moore Senior Vice President, General Counsel and Chief Compliance Officer |