secwatch.observer — SEC 8-K summary
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Issuer:     MARCUS CORP (MCS)
CIK:        0000062234
Form:       8-K
Filed at:   2023-10-20T23:59:59+00:00
Accession:  0000062234-23-000047
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

Marcus Corp. enters $225M revolving credit facility maturing Oct 2028, revises covenants
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- New five-year $225M revolver matures Oct 16, 2028; interest rates tied to net leverage ratio.
- Net leverage ratio covenant set at 3.50:1 (4.00:1 after material acquisitions ≥$30M); interest coverage ≥3.00:1.
- Collateral excludes hotel and certain theatre properties; senior notes basket increased to $100M outstanding.
- Fourth amendment to Note Purchase Agreements aligns covenants and collateral with new credit agreement.
- Applicable margin initially 1.75% for SOFR loans and 0.75% for ABR loans; facility fee of 0.25%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/62234/000006223423000047/0000062234-23-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/62234/000006223423000047/mcs-20231016.htm
  HTML page:      https://secwatch.observer/filing/0000062234-23-000047

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