secwatch.observer — SEC 8-K summary
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Issuer:     MYRIAD GENETICS INC (MYGN)
CIK:        0000899923
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0000899923-22-000112
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Myriad Genetics amends credit agreement: revolver cut to $200M, covenants waived through July 2023
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- Revolving commitments reduced from $300M to $200M, further to $150M by Dec 31, 2022; potential additional $50M cut from asset sales.
- Leverage ratio and interest coverage ratio covenants waived through July 31, 2023, the maturity date of the credit facility.
- Interest rate benchmark switched from LIBOR to SOFR; applicable margins and undrawn fees unchanged.
- Monthly liquidity reporting required if total revolving exposure > $0 (net of LC exposure under $5M).
- Lenders received a fee of 0.25% of their commitments for agreeing to the amendment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899923/000089992322000112/0000899923-22-000112-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899923/000089992322000112/mygn-20220726.htm
  HTML page:      https://secwatch.observer/filing/0000899923-22-000112

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