secwatch.observer — SEC 8-K summary
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Issuer:     BEST BUY CO INC (BBY)
CIK:        0000764478
Form:       8-K
Filed at:   2023-04-13T23:59:59+00:00
Accession:  0000764478-23-000012
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Best Buy enters into $1.25B five-year revolving credit facility replacing existing facility
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- New $1.25B committed unsecured revolving facility matures April 2028; replaces the $1.25B facility set to expire May 2026.
- Previous credit facility terminated on April 12, 2023; no amounts outstanding under the new facility.
- Pricing based on Term SOFR plus margin ranging from 0.680% to 1.100% depending on credit ratings.
- Facility fee ranges from 0.070% to 0.150% per annum based on debt ratings; covenants include maximum cash flow leverage ratio.
- JPMorgan serves as administrative agent; same syndicate of banks with substantially similar terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764478/000076447823000012/0000764478-23-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764478/000076447823000012/bby-20230412x8k.htm
  HTML page:      https://secwatch.observer/filing/0000764478-23-000012

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