secwatch.observer — SEC 8-K summary
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Issuer:     E.W. SCRIPPS Co (SSP)
CIK:        0000832428
Form:       8-K
Filed at:   2025-03-11T23:59:59+00:00
Accession:  0000832428-25-000005
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01, 10.1
LLM model:  deepseek-v4-flash:cloud@v2

Scripps refinances up to $1.3B in term loans; new $450M A/R facility and $208M revolver
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- Lenders holding >70% of term loans support exchange; existing B-2 loans due May 2026 will be fully repaid or exchanged for new B-2 due June 2028.
- Existing B-3 loans due June 2028 exchanged for new B-2 and new B-3 due November 2029; remaining B-3 subordinated.
- New $450M accounts receivable securitization facility (PNC $350M, KKR $100M) to partially repay existing B-2 loans.
- New $208M revolving credit facility due July 2027; existing revolver commitments partially retained.
- Backstop lenders commit up to ~$547M in new B-2 term loans to cash repay any B-2 not exchanged or repaid via A/R facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/832428/000083242825000005/0000832428-25-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/832428/000083242825000005/ssp-20250310.htm
  HTML page:      https://secwatch.observer/filing/0000832428-25-000005

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