DAVEY TREE EXPERT CO: debt financing — Davey Tree Expert issues $75M 6.19% senior notes due 2028 to PGIM affiliates

DAVEY TREE EXPERT CO

Issued $75M principal of 6.19% Senior Notes, Series C, due Nov 28, 2028, to PGIM affiliates.
Net proceeds for general corporate purposes and to pay down revolving credit facility borrowings.
Notes rank pari passu with other senior unsecured obligations and guaranteed by four subsidiaries.
Total outstanding under Note Purchase Agreement reaches $150M, the full capacity.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

DAVEY TREE EXPERT CO incurred senior notes of $75 million with certain affiliates of PGIM, Inc. at 6.19% maturing November 28, 2028.

Instrument: senior notes
Principal: $75 million
Counterparty: certain affiliates of PGIM, Inc.
Rate: 6.19%
Maturity: November 28, 2028
Event: incurrence

Exact text from the filing

On November 28, 2023, The Davey Tree Expert Company (the "Company") issued 6.19% Senior Notes, Series C, due November 28, 2028, in the aggregate principal amount of $75 million to certain affiliates of PGIM, Inc. (the "Series C Notes").

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Source: SEC EDGAR

accession 0000277638-23-000060

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