secwatch.observer — SEC 8-K summary
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Issuer:     LA-Z-BOY INC (LZB)
CIK:        0000057131
Form:       8-K
Filed at:   2025-07-02T23:59:59+00:00
Accession:  0000057131-25-000054
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

La-Z-Boy amends credit facility: maturity extended to 2030, covenants eased
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- Extended credit facility maturity from October 2026 to July 2030.
- Increased accordion basket for incremental loans from $100M to $125M.
- Removed SOFR credit spread adjustment, reducing borrowing costs.
- Lowered consolidated fixed charge coverage ratio covenant from 1.75:1 to 1.50:1.
- Revolving credit facility remains $200M with $50M letter of credit sub-limit.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/57131/000005713125000054/0000057131-25-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/57131/000005713125000054/lzb-20250701.htm
  HTML page:      https://secwatch.observer/filing/0000057131-25-000054

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