secwatch.observer — SEC 8-K summary
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Issuer:     LA-Z-BOY INC (LZB)
CIK:        0000057131
Form:       8-K
Filed at:   2021-10-15T23:59:59+00:00
Accession:  0000057131-21-000127
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 1.02, 2.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

La-Z-Boy enters $200M unsecured credit facility, replaces prior agreement, matures Oct 2026
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- New $200M revolving credit facility with $50M letter of credit sub-limit; unused at signing.
- Maturity October 15, 2026; option to extend by two one-year periods; accordion up to $100M additional.
- Interest based on LIBOR plus margin tied to consolidated net lease adjusted leverage ratio.
- Financial covenants: leverage ratio not above 3.50x (3.75x after material acquisitions) and fixed charge coverage ratio at least 1.75x.
- Existing Second Amended and Restated Credit Agreement terminated concurrently.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/57131/000005713121000127/0000057131-21-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/57131/000005713121000127/lzb-20211015.htm
  HTML page:      https://secwatch.observer/filing/0000057131-21-000127

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