{"schema_version":"secwatch.filing_event.v1","accession":"0000105770-26-000114","form_type":"8-K","ticker":"WST","cik":"0000105770","company_name":"WEST PHARMACEUTICAL SERVICES INC","filed_at":"2026-10-26T21:14:47+00:00","discovered_at":"2026-10-26T21:16:00.328553+00:00","generated_at":"2026-10-26T21:16:07.384443+00:00","sec_items":["1.01","2.03","1.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"West Pharmaceutical replaces 2019 credit facility with new $750M revolver and $200M term loan","bullets":["New $750M revolver and $200M term loan under a five-year credit agreement dated Oct 26, 2026; $130M outstanding under the 2019 facility repaid in full and terminated, no early termination penalties.","Term loan has quarterly amortization starting March 31, 2028 of $1.25M-$2.5M, balance due at maturity; sublimits of $50M for letters of credit and $90M for swing line loans.","Pricing scales with Net Leverage Ratio: term SOFR margin 1.000%-1.500% on revolver loans, 1.125%-1.750% on term loans; commitment fee 0.125%-0.225% on unused revolver.","Covenant caps Net Leverage Ratio at 3.50x, stepping to 4.00x during material acquisition periods; borrowings unsecured with no subsidiary guarantors as of closing.","Proceeds earmarked for working capital, capex, permitted acquisitions, stock repurchases and debt repayment; optional currencies include euros, yen and Singapore dollars."],"urls":{"canonical":"https://secwatch.observer/filing/0000105770-26-000114","json":"https://secwatch.observer/filing/0000105770-26-000114.json","markdown":"https://secwatch.observer/filing/0000105770-26-000114.md","text":"https://secwatch.observer/filing/0000105770-26-000114.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/105770/000010577026000114/0000105770-26-000114-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/105770/000010577026000114/wst-20261026.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-26T21:16:07.384443+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}