secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN RESOURCES INC (BEN)
CIK:        0000038777
Form:       8-K
Filed at:   2022-09-13T23:59:59+00:00
Accession:  0000038777-22-000165
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin Resources enters $500M revolver and $300M term loan, to repay $300M notes due Sept 2022
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- New $500M revolving credit facility matures Sept 7, 2023; no amounts drawn at closing.
- New $300M term loan matures Sept 8, 2025; funded in full at closing to repay 2.800% senior notes due Sept 2022.
- Interest on term loan at SOFR + 0.75%-1.00% based on credit rating; facility includes 0.10% credit spread adjustment.
- Financial covenant requires consolidated net leverage ratio ≤ 3.00x, measured quarterly.
- Revolver carries annual commitment fee of 0.05% on average unused amount.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38777/000003877722000165/0000038777-22-000165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38777/000003877722000165/ben-20220908.htm
  HTML page:      https://secwatch.observer/filing/0000038777-22-000165

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