secwatch.observer — SEC 8-K summary
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Issuer:     Remitly Global, Inc. (RELY)
CIK:        0001782170
Form:       8-K
Filed at:   2025-06-27T23:59:59+00:00
Accession:  0000950103-25-008001
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Remitly enters new $550M revolving credit facility, replaces prior $325M facility
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- New $550M secured revolving credit facility with JPMorgan as administrative agent; replaces prior $325M facility.
- Proceeds primarily to support prefunding of customer flows and for general corporate purposes.
- No borrowings were outstanding under the prior agreement at termination.
- Interest based on Term SOFR, Daily Simple SOFR, or alternate base rate; net leverage ratio covenant ≤ 4.50x.
- Facility guaranteed by certain subsidiaries and secured by first-priority lien on substantially all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1782170/000095010325008001/0000950103-25-008001-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1782170/000095010325008001/dp230566_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-008001

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