secwatch.observer — SEC 8-K summary
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Issuer:     Everforth Inc (EFOR)
CIK:        0000890564
Form:       8-K
Filed at:   2023-08-31T23:59:59+00:00
Accession:  0000890564-23-000017
Event type: debt
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ASGN upsizes revolver to $500M, issues new $500M Term Loan B due 2030
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- New $500M revolving credit facility (upsized from $460M) matures 2028; undrawn at closing.
- New $500M Term Loan B matures 2030 at SOFR+225 bps; proceeds retire $491M prior term loan.
- Accordion feature allows upsizing by up to the greater of $400M or 75% of EBITDA plus unlimited at sub-3.50x secured leverage.
- CEO cites oversubscription reflecting strong business; refinancing extends maturities and strengthens liquidity.
- Covenants include secured leverage ratio cap of 3.75x if revolver is drawn.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890564/000089056423000017/0000890564-23-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890564/000089056423000017/asgn-20230831.htm
  HTML page:      https://secwatch.observer/filing/0000890564-23-000017

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