---
schema_version: "secwatch.filing_event.v1"
accession: "0000886206-23-000013"
form_type: "8-K"
ticker: "FC"
cik: "0000886206"
company_name: "FRANKLIN COVEY CO"
filed_at: "2023-03-30T23:59:59+00:00"
generated_at: "2026-06-17T09:54:46.813240+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Franklin Covey enters $70M credit agreement with KeyBank, replacing JPMorgan facility

## Summary
- New $70M credit facility: $7.5M term loan (replaces existing term loan) and $62.5M revolving line of credit.
- Matures March 27, 2028; interest based on SOFR plus tiered margin of 1.50% to 2.75% depending on leverage ratio.
- Financial covenants require leverage ratio <3.00x and fixed charge coverage ratio >1.15x; restricts distributions unless in compliance.
- Replaces prior JPMorgan Chase credit agreement; KeyBank National Association serves as administrative agent and issuing lender.
- Obligations secured by substantially all assets of the company and certain domestic subsidiaries.

## SEC filing metadata
- accession: 0000886206-23-000013
- form_type: 8-K
- ticker: FC
- cik: 0000886206
- company_name: FRANKLIN COVEY CO
- filed_at: 2023-03-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/fc-20230327x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000886206-23-000013
- JSON: https://secwatch.observer/filing/0000886206-23-000013.json
- Plain text: https://secwatch.observer/filing/0000886206-23-000013.txt

## Key facts
- Debt Financings
  FRANKLIN COVEY CO incurred credit facility of up to $70.0 million with KeyBank National Association at SOFR plus 1.50% to SOFR plus 2.75% maturing March 27, 2028.
  - Instrument: credit facility
  - Principal: up to $70.0 million
  - Counterparty: KeyBank National Association
  - Rate: SOFR plus 1.50% to SOFR plus 2.75%
  - Maturity: March 27, 2028
  - Event: incurrence
  source text: subsidiaries, as applicable, also entered into a Security Agreement, Intellectual Property Security Agreement, and Guaranty of Payment. The 2023 Credit Agreement provides up to $70.0 million in total credit, of which $7.5 million will be used to replace the outstanding term loan balance from the 2019 Credit Agreement. The remaining $62.5 million will be available to
  evidence_url: https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm
- Material Agreements
  FRANKLIN COVEY CO terminated 2019 Credit Agreement with JPMorgan Chase Bank, N.A. (effective 2023-03-27).
  - Action: termination
  - Agreement: credit facility
  - Counterparty: JPMorgan Chase Bank, N.A.
  - Effective: 2023-03-27
  source text: On March 27, 2023, Franklin Covey Co. (the Company) entered into a new credit agreement (the 2023 Credit Agreement) with KeyBank National Association (KeyBank) leading a group of financial institutions (collectively, the Lenders), which replaced the Company’s previous credit agreement with JPMorgan Chase Bank, N.A. (the 2019 Credit Agreement).
  evidence_url: https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm
- Material Agreements
  FRANKLIN COVEY CO entered into 2023 Credit Agreement with KeyBank National Association valued at $70.0 million (effective 2023-03-27).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: KeyBank National Association
  - Value: $70.0 million
  - Effective: 2023-03-27
  source text: On March 27, 2023, Franklin Covey Co. (the Company) entered into a new credit agreement (the 2023 Credit Agreement) with KeyBank National Association (KeyBank) leading a group of financial institutions (collectively, the Lenders), which replaced the Company’s previous credit agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/886206/000088620623000013/0000886206-23-000013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.