secwatch.observer — SEC 8-K summary
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Issuer:     BRINKER INTERNATIONAL, INC (EAT)
CIK:        0000703351
Form:       8-K
Filed at:   2021-08-20T23:59:59+00:00
Accession:  0000703351-21-000028
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Brinker International enters $800M secured revolving credit facility, replaces prior credit agreement
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- New $800M secured revolver matures Aug 18, 2026; proceeds to repay existing facility and for working capital.
- Interest rate: Eurodollar rate + 1.50%-2.25% or Base rate + 0.50%-1.25%, based on Debt to Cash Flow ratio.
- Financial covenant: max Debt to Cash Flow ratio of 4.50:1 through Dec 2022, then 4.00:1 thereafter.
- Lenders include JPMorgan, BofA, Wells Fargo, Truist, MUFG, US Bank, Rabobank.
- Obligations secured by substantially all assets of Brinker and guarantors; certain exceptions for 2023 notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/703351/000070335121000028/0000703351-21-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/703351/000070335121000028/eat-20210818.htm
  HTML page:      https://secwatch.observer/filing/0000703351-21-000028

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