secwatch.observer — SEC 8-K summary
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Issuer:     HNI CORP (HNI)
CIK:        0000048287
Form:       8-K
Filed at:   2025-09-05T23:59:59+00:00
Accession:  0000950103-25-011326
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

HNI signs $1.725B credit facility to fund Steelcase acquisition
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- Credit facility includes $425M revolver, $500M term loan A, and up to $800M term loan B.
- Proceeds to finance a portion of the Steelcase merger consideration, refinance existing debt, and pay fees.
- Revolver and TLA mature 5 years post-closing; TLB matures 7 years post-closing with quarterly amortization.
- Interest on TLA/revolver priced at SOFR + 1.25%-1.875% or base rate + 0.25%-0.875%.
- TLA requires quarterly amortization starting at 2.5% p.a. in year one, increasing to 10% in year five.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48287/000095010325011326/0000950103-25-011326-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48287/000095010325011326/dp233731_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-25-011326

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