secwatch.observer — SEC 8-K summary
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Issuer:     HARMONIC INC. (HLIT)
CIK:        0000851310
Form:       8-K
Filed at:   2023-12-21T23:59:59+00:00
Accession:  0000851310-23-000113
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Harmonic enters $160M credit facility with Citibank to refinance debt; term loan for convertible note repurchase
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- New secured credit agreement provides $120M revolving facility and $40M delayed term loan, maturing December 2028.
- Term loan proceeds must be used to repurchase Harmonic's 2.00% Convertible Senior Notes due 2024.
- No loans outstanding at closing; approximately $180,000 of letters of credit issued under the facility.
- The facility refinances and replaces existing credit agreement with JPMorgan Chase dated December 2019.
- Interest rates: SOFR+2.00%-2.75% or base rate+1.00%-1.75%, with margins based on net leverage ratio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/851310/000085131023000113/0000851310-23-000113-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/851310/000085131023000113/hlit-20231221.htm
  HTML page:      https://secwatch.observer/filing/0000851310-23-000113

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