secwatch.observer — SEC 8-K summary
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Issuer:     BEST BUY CO INC (BBY)
CIK:        0000764478
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0000764478-25-000011
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Best Buy enters $1.25B five-year credit facility, replaces prior April 2028 facility
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- New $1.25 billion unsecured revolving credit facility matures April 2030; replaces previous facility of same size that was terminated.
- No amounts outstanding under new facility; interest rates based on SOFR plus margin (0.565%-1.015%) or ABR, with facility fee (0.060%-0.110%).
- Covenant requires maintaining maximum quarterly cash flow leverage ratio; contains usual affirmative/negative covenants and default provisions.
- Facility is guaranteed by certain subsidiaries; previous facility with JPMorgan as admin agent replaced; U.S. Bank is new admin agent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764478/000076447825000011/0000764478-25-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764478/000076447825000011/bby-20250418x8k.htm
  HTML page:      https://secwatch.observer/filing/0000764478-25-000011

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