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Axalta Coating Systems Ltd.

For the period ended Sep 30, 2025. Filed Oct 29, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Oct 29, 2025

AXTA$36.45+0.3%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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(15) BORROWINGS

Borrowings are summarized as follows:

September 30, 2025December 31, 2024
2029 Dollar Term Loans$1,679$1,702
2027 Dollar Senior Notes500500
2029 Dollar Senior Notes700700
2031 Dollar Senior Notes500500
Short-term and other borrowings5254
Unamortized original issue discount(11)(13)
Unamortized deferred financing costs(18)(22)
Total borrowings, net3,4023,421
Less:
Short-term borrowings33
Current portion of long-term borrowings1717
Long-term debt$3,382$3,401

Our senior secured credit facilities (the “Senior Secured Credit Facilities”) consist of a term loan due in 2029 (the “2029 Dollar Term Loans”) and a revolving credit facility that matures in 2029 (the “Revolving Credit Facility”) that are governed by a credit agreement (as amended, the “Credit Agreement”).

Revolving Credit Facility

At September 30, 2025 and December 31, 2024, letters of credit issued under the Revolving Credit Facility totaled $28 million and $22 million, respectively, which reduced the availability under the Revolving Credit Facility as of such dates. Availability under the Revolving Credit Facility was $772 million and $778 million at September 30, 2025 and December 31, 2024, respectively. The letters of credit issued under the Revolving Credit Facility include $14 million that secures Customer Obligation Guarantees at both September 30, 2025 and December 31, 2024, respectively.

Other Activity

During the three months ended September 30, 2025, we prepaid $10 million of the outstanding principal amount of the 2029 Dollar Term Loans. As a result of these prepayments, we recorded animmaterial loss on extinguishment of debt for the three months ended September 30, 2025, which comprised the proportionate write-off of unamortized deferred financing costs and original issue discounts.

On October 28, 2025, certain of our subsidiaries entered into the Seventeenth Amendment to the Credit Agreement (the "Seventeenth Amendment"), to permit the funding of repurchases of our common shares using borrowings under the Credit Agreement.

Future repayments

Below is a schedule of required future repayments of all borrowings outstanding at September 30, 2025.

Remainder of 2025$5
202621
2027521
202821
20292,329
Thereafter534
Total borrowings3,431
Unamortized original issue discount(11)
Unamortized deferred financing costs(18)
Total borrowings, net$3,402
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.