Item 1.01
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Entry into a Material Definitive Agreement.
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Receivables Purchase Agreement Amendment
As previously
disclosed, on May 5, 2017, Owens Corning Receivables LLC (the Seller) and Owens Corning Sales, LLC (the Originator), each a subsidiary of Owens Corning (the Company), entered into a Second Amended and
Restated Receivables Purchase Agreement among the Seller, the Originator, the purchasers signatory thereto and PNC Bank, National Association, as Administrator (the Receivables Purchase Agreement). On April 8, 2019, the parties to
the Receivables Purchase Agreement entered into a second amendment to extend the Scheduled Commitment Termination Date from May 5, 2020 to April 8, 2022. The Receivables Purchase Agreement, as amended, now matures on the earliest of
April 8, 2022, at the option of the Seller 30 days after the Seller gives notice to the Administrator, or after a termination event.
Credit
Agreement Amendment
As previously disclosed, on May 4, 2018, the Company entered into a Credit Agreement among the Company, as borrower, the
lenders signatory thereto and Wells Fargo Bank, National Association, as administrative agent (the Credit Agreement). The Credit Agreement provides for, among other matters, a revolving credit facility (the Credit Facility)
in an aggregate principal amount of $800 million, including borrowings and letters of credit. On April 9, 2019, pursuant to the terms of the Credit Agreement, the parties to the Credit Agreement entered into an amendment (the
Extension Agreement) to extend the maturity date of the Credit Facility by one year. The Credit Facility, as amended, now matures on the earlier of May 3, 2024, the date of acceleration pursuant to its terms, or the date the
commitments thereunder are terminated pursuant to the terms thereof.
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