secwatch.observer — SEC 8-K summary
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Issuer:     JACK HENRY & ASSOCIATES INC (JKHY)
CIK:        0000779152
Form:       8-K
Filed at:   2023-05-22T23:59:59+00:00
Accession:  0000779152-23-000028
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jack Henry enters $180M term loan, amends revolver
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- $180M term loan entered May 16, 2023, matures in two years, used to reduce revolver borrowings.
- Interest rate variable based on adjusted Term SOFR or base rate plus spread tied to leverage ratio.
- Financial covenants: minimum EBITDA/interest 3.50x, max leverage 3.25x (up to 3.50x after $100M+ acquisition).
- Existing revolver amended to permit the term loan and make conforming changes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/779152/000077915223000028/0000779152-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/779152/000077915223000028/jkhy-20230516.htm
  HTML page:      https://secwatch.observer/filing/0000779152-23-000028

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