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Subsequent Events
12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Dividend declaration
    On February 3, 2021, the Board of Directors declared a dividend of $0.01 per share of common stock to stockholders of record as of the close of business on February 26, 2021, to be paid on March 31, 2021.
Brookfield Offering and Ownership
On January 20, 2021, Brookfield completed the sale of 20,000,000 shares of our common stock, in an underwritten public offering at a price of $10.90 per share. Brookfield's ownership percentage stood at approximately 47.8% of our outstanding common stock following the transaction.
Term Loan Repricing
On February 17, 2021 (the “Effective Date”), the Company entered into a second amendment (the “Second Amendment”) to its 2018 Credit Agreement to, among other things, (a) decrease the Applicable Rate (as defined in the Credit Agreement) with respect to any Initial Term Loan (as defined in the Credit Agreement) by 0.50% for each pricing level, (b) decrease the interest rate floor for all Initial Term Loans to 0.50%, (c) add certain technical provisions with respect to the impact of European Union bail-in banking legislation on liabilities of certain non-U.S. financial institutions, and (d) add certain technical provisions in connection with future replacement of the LIBO Rate (as defined in the Credit Agreement). As a result of the Second Amendment and the combined effect of the reduction in the interest rate margin and the reduction in the interest rate floor, the interest rate on the Initial Term Loan has been reduced by 1.0% per year.
In connection with the Second Amendment, on February 12, 2021, GrafTech Finance repaid approximately $150 million aggregate principal amount of its Initial Term Loans with cash on hand.