Exhibit 10.2
Execution Version
AMENDMENT NO. 1 TO CREDIT AGREEMENT
This Amendment No. 1, dated as of May 30, 2018 (this “Amendment”), to that certain Credit Agreement, dated as of January 31, 2017 (as amended, restated, supplemented or otherwise modified from time to time immediately prior to the effectiveness of this Amendment, the “Credit Agreement”; the Credit Agreement, after giving effect to the effectiveness of this Amendment, the “Amended Credit Agreement”), by and among ALPHA 3 B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands, with corporate seat in De Meern and registered with the Dutch trade register under number 66940532 (the “Parent Borrower”), ALPHA US BIDCO, INC., a Delaware corporation (the “Subsidiary Borrower”, and together with the Parent Borrower, the “Incremental Borrowers” or “you”), ATOTECH DEUTSCHLAND GMBH, a company organized and existing under the laws of Germany with principal offices located at Erasmusstrasse 20, Berlin, Germany 10553 (the “German Borrower”), ATOTECH S.E.A. PTE LTD, a private company limited by shares incorporated under the laws of Singapore with company registration no. 198904489 (the “Singapore Borrower” and together with the German Borrower and the Incremental Borrowers, the “Borrowers”), ALPHA 2 B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, with corporate seat in De Meern and registered with the Dutch trade register under number 66937442 (“Holdings”), each lender from time to time party thereto, the other financial institutions from time to time party thereto, BARCLAYS BANK PLC, as administrative agent and collateral agent (the “Administrative Agent” and BANK OF CHINA LIMITED, SHANGHAI BRANCH, as Redenomination Term Facilities Administrative Agent, is entered into by and among the Borrowers, Holdings, the Subsidiary Guarantors party hereto, the Administrative Agent, and the Incremental Term Lender (as defined below).
WITNESSETH:
WHEREAS, pursuant toSection 2.14 of the Credit Agreement, the Borrowers may obtain a Term Commitment Increase (as defined in the Credit Agreement) in an aggregate amount of $200,000,000 (the Term Loans made under the 2018 Term Commitment Increase (as defined below), the “2018 Term Loans”) by, among other things, entering into this Amendment in accordance with the terms and conditions of the Credit Agreement in order to fund aone-time special cash dividend payment to Holdings (to permit Holdings to make aone-time special cash dividend to holders of Capital Stock of Holdings), on or promptly following the First Amendment Effective Date, in an aggregate principal amount not to exceed $200,000,000 (the “2018 Special Dividend”);
WHEREAS, the Borrowers have requested that the Incremental Term Lender (as defined below) provide, and the Incremental Term Lender has agreed to provide, the 2018 Term Commitment Increase in the amounts indicated onAnnex I hereto;
WHEREAS, on or around the First Amendment Effective Date, Holdings will issue $300,000,000 in aggregate principal amount of Senior PIK Toggle Notes due 2023 (the “Holdco PIK Notes”);
WHEREAS, in connection with the foregoing, it is intended that (a) the Incremental Borrowers will obtain such 2018 Term Loans, (b) the proceeds of the Borrowings under such 2018 Term Loans will be used (i) to finance, in part, the 2018 Special Dividend and (ii) to pay certain fees, costs and expenses related thereto and in connection with this Amendment and (c) Holdings will issue the Holdco PIK Notes and make a dividend to Holdings’ equity holders and pay certain fees, commissions and expenses related to the Holdco PIK Notes (collectively, the “Transactions”);