secwatch.observer — SEC 8-K summary
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Issuer:     APOGEE ENTERPRISES, INC. (APOG)
CIK:        0000006845
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000006845-24-000227
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Apogee enters $700M credit facility, replaces prior $410M agreements
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- New unsecured senior credit facility of $700M: $450M revolver and $250M term loan (undrawn at closing).
- Prior $410M credit agreements terminated; $65M outstanding repaid.
- Five-year maturity to July 2029 with floating interest based on leverage ratio.
- Financial covenants: interest coverage ≥3.00x, leverage ≤3.50x (or 4.00x during Acquisition Holiday).
- Accordion feature allows unlimited additional commitments subject to leverage tests.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/6845/000000684524000227/0000006845-24-000227-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/6845/000000684524000227/apog-20240719.htm
  HTML page:      https://secwatch.observer/filing/0000006845-24-000227

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer