secwatch.observer — SEC 8-K summary
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Issuer:     FASTENAL CO (FAST)
CIK:        0000815556
Form:       8-K
Filed at:   2026-06-23T20:05:26+00:00
Accession:  0000815556-26-000035
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fastenal renews $835M credit facility, reduces private placement capacity to $600M
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- Revolving credit commitment increased to $835M with accordion option up to $500M; maturity extended to June 18, 2031.
- Removed consolidated EBITDA covenant; added minimum interest coverage ratio of 3.00:1.00 and max total leverage ratio of 3.00:1.00 (step-up to 3.50 after $750M acquisition).
- Master Note Agreement reduced from $900M to $600M; PGIM released as purchaser and investor group representative.
- Deleted negative covenants on dispositions, investments, and restrictive agreements; increased thresholds for certain indebtedness and judgment cross-defaults.
- Issuance period under Master Note Agreement extended to June 18, 2031.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/815556/000081555626000035/0000815556-26-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/815556/000081555626000035/fast-20260618.htm
  HTML page:      https://secwatch.observer/filing/0000815556-26-000035

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