secwatch.observer — SEC 8-K summary
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Issuer:     GRAYBAR ELECTRIC CO INC (—)
CIK:        0000205402
Form:       8-K
Filed at:   2023-03-29T23:59:59+00:00
Accession:  0000205402-23-000011
Event type: debt
Sentiment:  neutral
Materiality: 0.15
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Graybar Electric amends credit facility, replacing LIBOR with Term SOFR and adding CDOR transition language
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- Fifth Amendment to Credit Agreement dated March 29, 2023, among Graybar, Graybar Canada, lenders, and Bank of America.
- LIBOR-based Eurodollar rate replaced with Term SOFR as the reference interest rate.
- Transition language added for Canadian Dealer Offered Rate (CDOR) ahead of its expected discontinuation by June 28, 2024.
- Amendment affects Graybar's existing five-year revolving credit facility; no changes to borrowing capacity or terms disclosed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/205402/000020540223000011/0000205402-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/205402/000020540223000011/c402-20230329x8k.htm
  HTML page:      https://secwatch.observer/filing/0000205402-23-000011

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