secwatch.observer — SEC 8-K summary
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Issuer:     DARDEN RESTAURANTS INC (DRI)
CIK:        0000940944
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0000940944-23-000064
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Darden enters $1.25B revolving credit facility, upsizes from $1B prior facility
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- New $1.25B unsecured revolver replaces $1B facility; matures October 23, 2028.
- No borrowings outstanding at closing; facility includes $150M letter-of-credit sublimit.
- Interest rate based on credit rating; proceeds for working capital, capex, acquisitions.
- Financial covenant limits consolidated total debt to capitalization ratio to 0.75:1.
- Agreement includes customary covenants, events of default, and an accordion feature.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/0000940944-23-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/940944/000094094423000064/dri-20231023.htm
  HTML page:      https://secwatch.observer/filing/0000940944-23-000064

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