---
schema_version: "secwatch.filing_event.v1"
accession: "0000074046-22-000058"
form_type: "8-K"
ticker: "ODC"
cik: "0000074046"
company_name: "Oil-Dri Corp of America"
filed_at: "2022-09-06T23:59:59+00:00"
generated_at: "2026-06-23T15:58:34.250218+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Oil-Dri amends credit agreements, replaces LIBOR with SOFR, increases unsecured debt basket to $75M

## Summary
- Replaced LIBOR with adjusted Term SOFR as reference rate for $45M revolving credit facility.
- Increased unsecured indebtedness basket from $50M to $75M.
- Replaced consolidated debt covenant with maximum debt to earnings ratio; lowered minimum fixed charge coverage ratio.
- Amended Note Purchase Agreement with PGIM/Prudential to align covenants and modify excess leverage fee.
- Paid $20,000 upfront fee to BMO; legal formalities satisfied.

## SEC filing metadata
- accession: 0000074046-22-000058
- form_type: 8-K
- ticker: ODC
- cik: 0000074046
- company_name: Oil-Dri Corp of America
- filed_at: 2022-09-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/74046/000007404622000058/0000074046-22-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/74046/000007404622000058/odc-20220906.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000074046-22-000058
- JSON: https://secwatch.observer/filing/0000074046-22-000058.json
- Plain text: https://secwatch.observer/filing/0000074046-22-000058.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.