Subsequent Events

6 Months Ended

Apr. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Shiloh Industries, Inc. and Shiloh Holdings Netherlands B.V., a besloten vennootschap met beperkte aansprakelijkheid organized under the laws of the Netherlands (the "Dutch Borrower"), as the borrowers, and certain domestic subsidiaries of the Company, as the guarantors, entered into an amendment, dated June 6, 2019 (the "Amendment"), with respect to the Company's existing Credit Agreement (as so amended, the "Credit Agreement"), with the lenders part thereto and Bank of America, N.A. as administrative agent, swing line lender and an L/C issuer. The Amendment amends the Credit Agreement, which was originally entered into on October 25, 2013 and previously amended as of December 30, 2013, June 26, 2014, September 29, 2014, April 29, 2015, October 15, 2015, October 28, 2016, July 31, 2017 and October 31, 2017.

The Amendment, among other things, modifies certain of the thresholds for the consolidated leverage ratio, adjusts the interest rate margins based on the applicable pricing tiers, and modifies various baskets related to the indebtedness of foreign subsidiaries, disposition of assets, capital expenditures and certain sale leaseback transactions, in each case under the Credit Agreement. The Amendment does not modify the aggregate revolving commitments under the Credit Agreement.

Certain of the lenders under the Credit Agreement and their affiliates have provided from time to time, and may continue to provide, investment banking, commercial banking, financial and other services to us which we have paid and intend to pay customary fee and expense reimbursements.

The foregoing is a summary of the material terms and conditions of the Amendment and not a complete description of the Amendment. Accordingly, the foregoing is qualified in its entirety by reference to the Amendment, attached hereto as Exhibit 10.2, and incorporated herein by reference.