secwatch.observer — SEC 8-K summary
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Issuer:     GRACO INC (GGG)
CIK:        0000042888
Form:       8-K
Filed at:   2023-05-23T23:59:59+00:00
Accession:  0000042888-23-000029
Event type: other
Sentiment:  neutral
Materiality: 0.15
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Graco amends credit agreement to replace LIBOR with SOFR benchmark
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- Amendment dated May 23, 2023 replaces LIBOR with SOFR for borrowings under existing $750M credit facility.
- All lenders, including U.S. Bank, JPMorgan, Wells Fargo, Bank of America, PNC, and others, consented.
- No default or event of default existed before or after the amendment; loan parties reaffirmed obligations.
- Notice contact change: Karen Gallivan removed; Joseph J. Humke remains as notice contact.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42888/000004288823000029/0000042888-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42888/000004288823000029/ggg-20230523.htm
  HTML page:      https://secwatch.observer/filing/0000042888-23-000029

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