secwatch.observer — SEC 8-K summary
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Issuer:     Invesco Ltd. (IVZ)
CIK:        0000914208
Form:       8-K
Filed at:   2025-05-16T23:59:59+00:00
Accession:  0000914208-25-000243
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Invesco enters $1.0B term loan, upsizes credit facility to $2.5B; repurchases $1B preferred stock
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- Entered $1.0B unsecured term loan ($500M 3-yr, $500M 5-yr); proceeds used to buy back $1.0B of 5.9% Series A preferred stock from MassMutual at 15% premium.
- Amended revolver to $2.5B (from $2.0B), maturing May 16, 2030; no prepayment fees.
- Term loan pricing: SOFR + 1.125% (3-yr) or 1.250% (5-yr); revolver margin at 1.000% for SOFR loans.
- Financial covenants: leverage ≤ 3.25x (can increase to 3.75x for acquisitions >$500M); interest coverage ≥ 4.00x.
- Both facilities include a $600M netting provision for cash offsets in covenant calculation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/914208/000091420825000243/0000914208-25-000243-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/914208/000091420825000243/ivz-20250516.htm
  HTML page:      https://secwatch.observer/filing/0000914208-25-000243

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