secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN RESOURCES INC (BEN)
CIK:        0000038777
Form:       8-K
Filed at:   2023-07-28T23:59:59+00:00
Accession:  0000038777-23-000109
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin Resources enters $800M revolving credit facility, repays $300M term loan
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- New five-year $800M revolver with Bank of America as agent; no borrowings outstanding at closing.
- Terminated $500M revolver (maturity Sep 2023) and $300M term loan (maturity Sep 2025); $300M term loan fully repaid.
- Interest is Base Rate or Term SOFR plus margin (0.625%-1.25%) based on debt rating; commitment fee 0.06%-0.125% on unused balance.
- Financial covenant requires net leverage ratio ≤ 3.25x at each quarter-end.
- Proceeds available for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/38777/000003877723000109/0000038777-23-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/38777/000003877723000109/ben-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000038777-23-000109

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