Subsequent Events |
12 Months Ended |
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Dec. 31, 2019 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
30. Subsequent Events:
In February 2020, the Company re-priced its Term Loan Facility to reduce the applicable interest rate and extend the maturity of the facility to February 2027. The terms of the facility were substantially consistent following the re-pricing, except that borrowings under the term loan will bear interest at a rate equal to a floating rate of LIBOR plus 2.25% per annum.
Also in February 2020, the Company entered into a long-term agreement with a leading global thermoplastic producer to supply glass beads, and to meet that supply, exchanged the Company’s ThermoDrop® product line for their glass bead production facilities in the U.S.
Other than the items described above, the Company has evaluated subsequent events since the balance sheet date and determined that there are no additional items to disclose.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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