secwatch.observer — SEC 8-K summary
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Issuer:     CLEAN HARBORS INC (CLH)
CIK:        0000822818
Form:       8-K
Filed at:   2024-07-02T23:59:59+00:00
Accession:  0000822818-24-000028
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clean Harbors replaces credit facility with $600M revolving line, borrowing base tied to receivables
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- New $600M revolving facility replaces prior credit agreement; no loans outstanding but $136.4M in letters of credit carried over.
- US borrower can access $550M (letters of credit sublimit $250M); Canadian borrower $50M (LC sublimit $75M).
- Borrowings bear interest at SOFR + 1.5% or Base Rate + 0.5%; unused line fee 0.25%-0.375%.
- Facility expires June 28, 2029; secured by accounts receivable of US and Canadian subsidiaries.
- Covenants limit debt, acquisitions, investments, and distributions subject to liquidity thresholds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/822818/000082281824000028/0000822818-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/822818/000082281824000028/clh-20240628.htm
  HTML page:      https://secwatch.observer/filing/0000822818-24-000028

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