secwatch.observer — SEC 8-K summary
======================================

Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2022-12-20T23:59:59+00:00
Accession:  0000792987-22-000062
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Astec enters $250M revolving credit facility, repays prior $150M facility
-------------------------------------------------------------------------

- Revolving credit facility of $250M plus incremental facility up to $125M, maturing Dec 19, 2027.
- Proceeds used to repay all outstanding borrowings under prior $150M revolving credit facility.
- Interest based on adjusted Term SOFR plus margin of 1.175%–2.175% (revolver) and commitment fee of 0.150%–0.250%.
- Financial covenants: max Consolidated Total Net Leverage Ratio of 3.50x (4.00x after permitted acquisitions) and min Interest Coverage Ratio of 2.50x.
- Credit Agreement entered Dec 19, 2022; guaranteed by US domestic subsidiaries.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000062/0000792987-22-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000062/aste-20221219.htm
  HTML page:      https://secwatch.observer/filing/0000792987-22-000062

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